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Post Office launch 5-star mortgage

Post Office launch 5-star mortgage

Category: Mortgages

Updated: 05/02/2013
First Published: 01/02/2013

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Post Office has launched a highly competitive five-year fixed rate mortgage available to borrowers with deposits of 25% and over.

The basics…

This mortgage offers a rate of 2.98% to 31.3.18 and has a maximum loan-to-value (LTV) of 75%.

The finer details….

An arrangement fee of £995 is payable. This fee is charged to set-up your mortgage and is usually paid upfront or can be added to your mortgage balance.

Purchase and remortgage customers can borrow a minimum of £25,001.

There is also the opportunity to make overpayments of up to 10% of the outstanding balance.

Why we like it….

Combining a competitive rate, low arrangement fee and flexibility with repayments, this deal from Post Office now sits comfortably at the top of the long-term mortgage best buy table. Five out of five Moneyfacts stars have been awarded.

What next?

Compare 5 year and over up to 10 year fixed rate mortgages
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What is a fixed rate mortgage? - Fixed mortgages can seem simple at first glance, but it is still worth brushing up on how they work, and the things to be aware of if you are considering one.

How to overpay to take years off your mortgage - Paying off your mortgage early is a sensible thing to be considering at the moment. Just £50 overpayment per month could shave a significant amount off the term of your mortgage so (depending on the size of your mortgage and how much you overpay) you could finish months, or even years earlier.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.