Post Office announces mortgage cut

The Post Office has announced that it has cut its three-year fixed rate mortgage to 5.34 per cent – which it claims is the best deal of its kind.

With an arrangement fee of £399, the organisation is making the claim that it is the best deal on offer in the UK market.

Post Office director of lending Gary Fitton said: "In the current market we are keen to pass on as much value as possible to our customers, which is why we have reduced our rates even further today."

He added that people who are looking to get on the property market or are coming to the end of their fixes rate deal face "either high arrangement fees or SRVs". It is the third time the Post Office has cut the deal since it was launched.

In related news, Just Retirement has announced it is to refund the valuation fee to customers who apply for its equity release mortgage up until March 31st.

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