Post Office Money has launched a competitive two-year fixed rate Help to Buy mortgage, which has shot straight into the Moneyfacts charts thanks to its eye-catching rate and terms.
This mortgage has a competitive rate of 3.78% fixed until 31.5.18, enabling it to take a prized place in the charts. It is available at a loan-to-value (LTV) of 95% and has absolutely no product fees.
This deal is offered to house purchase customers who have a modest deposit of just 5%. There are no incentives accompanying the mortgage, but borrowers can take advantage of the option to make overpayments of up to 10% of the outstanding balance per year.
Borrowers with small deposits will welcome the latest newcomer to the Help to Buy market, especially as it is accompanied by no product fees. Those who are looking to keep their initial costs down will therefore find this a cost-effective option.
Moneyfacts rating: Excellent
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