Post Office fixed rate mortgage 5.34 per cent
The Post Office has reduced the rate on its 3 year fixed rate mortgage to 5.34 per cent making it one of the better fixed rate mortgage deals in the UK today.
What’s more is the arrangement fee is just £399, one of the lowest available, and the lending fee is £199.
I don’t know why they don’t just have one fee of £599 rather than splitting the fees between an arrangement fee plus lending fee. I suppose it’s one way for the Post Office to make up for having such a low arrangement fee, i.e. they tie another fee in with the product. The only good thing is that the lending fee can be paid at the end of the mortgage term so at least you can put off the payment if you’re struggling to find free cash at the time.
The three year fixed rate mortgage deal is part of a new range of mortgages being trialed by the Post Office in selected branches across the North. The early success has now led the Post Office to expand the trial to other branches across the UK.
If you want to find out more then visit the Post Office here or call 0800 707 6204.
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