Postoffice 2 year fixed rate mortgage 1.99% - no fees! - HotUKDeals
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Postoffice 2 year fixed rate mortgage 1.99% - no fees!

£0.00 @ Post Office
A 2 year fixed rate deal No fees 75% LTV EXTRACT FROM MONEYFACTS WEBSITE The basics… This deal has a rate of 1.99% fixed until 31.3.17, and is available at a loan-to-value (LTV) of 75%. Absol…
ran123ran Avatar
2y, 2m agoFound 2 years, 2 months ago
A 2 year fixed rate deal
No fees

75% LTV

EXTRACT FROM MONEYFACTS WEBSITE
The basics…
This deal has a rate of 1.99% fixed until 31.3.17, and is available at a loan-to-value (LTV) of 75%. Absolutely no fees are payable.

The finer details…
This mortgage is open to first-time buyers, second-time buyers and remortgagors with a 25% deposit. All borrowers can profit from an incentive package of free valuation, while those looking to remortgage can also benefit from free legal fees.

Borrowers have the option to make overpayments of up to 10% of the outstanding balance, giving them some welcome repayment flexibility.
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ran123ran Avatar
2y, 2m agoFound 2 years, 2 months ago
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Top Comments

(5)
44 Likes
satchef1
Can't say I agree with the other poster either; a 25% deposit on a modest home is far from the realm of the 'super rich'. In London and other expensive areas, sure, but for most of the UK it would be £30-£50k, less in cheaper parts like Stoke. Still a lot of money, but not an unachievable savings goal for many.

Don't you come round 'ere with your logic. I want to blow all my income on latest generation games consoles, mobile phone contracts, takeaways, gym memberships and brand new cars. I don't want to put money towards savings and most importantly of all I want to blame others for my poor financial decisions THANK YOU VERY MUCH.
19 Likes
You got no fees!
12 Likes
30 - 50k an achievable savings goal for a young person? are you serious?

I'm in the wrong job.
9 Likes
JezUK
satchef1
Can't say I agree with the other poster either; a 25% deposit on a modest home is far from the realm of the 'super rich'. In London and other expensive areas, sure, but for most of the UK it would be £30-£50k, less in cheaper parts like Stoke. Still a lot of money, but not an unachievable savings goal for many.

Don't you come round 'ere with your logic. I want to blow all my income on latest generation games consoles, mobile phone contracts, takeaways, gym memberships and brand new cars. I don't want to put money towards savings and most importantly of all I want to blame others for my poor financial decisions THANK YOU VERY MUCH.

All very well trying to impress everybody with your smart @ss logic... House prices went up at least 250% from 1999 to 2004... Wages however, didn't budge and living costs/expenses & utility bills have gone through the roof. Then you include zero hour contracts and mass immigration keeping the working class on their knees whilst flooding housing stock, it really isn't that simple...

If you're honestly saying it's as easy now as it was for people pre 1999, you're totally deluded!
5 Likes
paully
A lending fee of £195 applies which is due on completion but payment can be deferred until your mortgage is fully repaid

Still looks like a cracking deal.
And how much interest would you pay on that £195 over a 20 year mortgage repayment - its a scam.

All Comments

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2 Likes #1
A lending fee of £195 applies which is due on completion but payment can be deferred until your mortgage is fully repaid

Still looks like a cracking deal.
2 Likes #2
Looks excellent. I believe Post Office loans/mortgages are handled by the Bank of Ireland

Here's some of their other rates including one thats a 1.78% for 2 year fixed
http://www.money.co.uk/mortgages/mortgage-lenders/Bank-of-Ireland-Mortgages.htm

Jumps way up though by around 1% to 3% when going for a 5 year fixed
#3
Can you get this when re-mortgaging?
2 Likes #4
PhilAB
Can you get this when re-mortgaging?
yes
#5
ran123ran
PhilAB
Can you get this when re-mortgaging?
yes

Nice, however due in feb!
#6
PhilAB
ran123ran
PhilAB
Can you get this when re-mortgaging?
yes

Nice, however due in feb!

aprt from the scary reply, go contact them if you are so desperate and see if you can have the deal in Feb. Personally if I were you, I would seek an IFA
#7
PhilAB
ran123ran
PhilAB
Can you get this when re-mortgaging?
yes

Nice, however due in feb!

Could take you until February to get re-mortgage sorted ?
Not sure how long process takes now for re-mortgaging but for new mortgages its such a long process now.
5 Likes #8
paully
A lending fee of £195 applies which is due on completion but payment can be deferred until your mortgage is fully repaid

Still looks like a cracking deal.
And how much interest would you pay on that £195 over a 20 year mortgage repayment - its a scam.
#9
I work at the post office and the rate keeps dropping
Many branches like our have mortgage advisor in branch
1 Like #10
Check out Tesco bank, we have just re-mortgaged with them at 1.69% for 2yr £600 product fee and £195 charge
19 Likes #11
You got no fees!
#12
paully
A lending fee of £195 applies which is due on completion but payment can be deferred until your mortgage is fully repaid

Still looks like a cracking deal.

Can't see where this £195 charge is?
#13
PhilAB
Can you get this when re-mortgaging?

I recently had an appointment at the post office with one of their advisers to remortgage and they turned me down in the first 5 minutes because I was not earning more than a certain figure - can't remember what. I have been a home owner since I was 22 and Im now 52! Never defaulted, got no debts. Ive come to the conclusion I am stuck with my current provider until Ive paid up:(
#14
75% LTV for first time buyers? So this is for the super rich only.
1 Like #15
preep
PhilAB
Can you get this when re-mortgaging?

I recently had an appointment at the post office with one of their advisers to remortgage and they turned me down in the first 5 minutes because I was not earning more than a certain figure - can't remember what. I have been a home owner since I was 22 and Im now 52! Never defaulted, got no debts. Ive come to the conclusion I am stuck with my current provider until Ive paid up:(

I applied at a HSBC branch last year and appllication was rejected on grounds of affordability.
I applied with HSBC again but online with all the same information and my application was accepted (i did get a call from their underwriter asking a couple of questions re my income)
#16
FatherTed
75% LTV for first time buyers? So this is for the super rich only.
not quite. you can get 20% from the government through the scheme for new builds
#17
I can get a 2 year fix at 2.14% with nationwide with zero fees.
4 Likes #18
Jonnyblock
I can get a 2 year fix at 2.14% with nationwide with zero fees.

So on a mortgage of £200K, that would be about £600 minus £195 more expensive than this deal over 2 years. You go for it!
3 Likes #19
No8
Jonnyblock
I can get a 2 year fix at 2.14% with nationwide with zero fees.

So on a mortgage of £200K, that would be about £600 minus £195 more expensive than this deal over 2 years. You go for it!

My mortgage will be 80k
3 Likes #20
I'm a GP, couldn't get a mortgage from anyone as I'm "self employed". Only got mortgage with Scottish widows through a broker and large fee, with rates that are not competitive. Does have an offset facility which may be handy.
I would consider me and wife good to lend to, amazing how the mortgage market works.
#21
Any competitive priced mortgages with a 10% deposit?
#22
On 80k mortgage the post office 1.99% 2 yr fix is still cheaper than nation wide 2.14 fix?
#23
Very good deal but I'm glad I picked up the Norwich & Peterborough's Bank of England base rate +0.55% deal before the crash!
First thing it did was go up 0.5% but who would have predicted it going down to 0.5%. :-)

Edited By: Martini on Dec 19, 2014 01:07
#24
Could you get a Buy to Let at this rate?
#25
Comment
dimuc
Could you get a Buy to Let at this rate?


Sorry just read the desc.
#26
I'd be wary of the PO. They had a 1.7% ISA recently (next best was 1.3%) and it was supposed to be accessible in branch, by telephone, or post.

After a long wait in the central branch all they did was pop my application in the prepaid envelope. I still had to go back with ID at a later date. Only they didn't pop it in the envelope. They used some sort of scanning device and it just dissappeared into the ether. I had to go back but they were clueless and just phoned head office.

Long story short, bit of compo from them, but it's cheap for a reason- the inconvenience.
#27
paully
A lending fee of £195 applies which is due on completion but payment can be deferred until your mortgage is fully repaid

Still looks like a cracking deal.

And they won't let on when they are advising you. How can they claim no fees/low fees? I got a break down and I swear if I pour over it I'll prove they (another provider) totally hid this from me. Thought it was early repayment or something, no it's just a fee. Neither a borrower or a lender 8) yeah right

Edited By: zaphodbb on Dec 19, 2014 02:58
#28
Voted hot, Ok deal if your you have a current fix ending and SVR is far higher . Although will stick to my tracker, don't think I.d fancy coming out a fix in 2 years time, the market will likely be in an active time , then
#29
Looks interesting, thanks OP
#30
preep
PhilAB
Can you get this when re-mortgaging?

I recently had an appointment at the post office with one of their advisers to remortgage and they turned me down in the first 5 minutes because I was not earning more than a certain figure - can't remember what. I have been a home owner since I was 22 and Im now 52! Never defaulted, got no debts. Ive come to the conclusion I am stuck with my current provider until Ive paid up:(

They turned me down, I was already a customer of theirs. Had a 25% deposit, wanted less than 2x my salary, excellent credit. Halifax had no problem giving me a mortgage.

With deals like these, they can cherry pick the best customers and most profitable.
#31
Anyone know any good 5 year fixed rates floating around, or good comparison websites to put in my particulars?

Cheers, ganticus.
#32
In two years when this express the interest rates could be much higher. Could end up more expensive when you have top re-mortgage after this. Great deal but think longer term too
#33
ran123ran
PhilAB
Can you get this when re-mortgaging?
yes

unless you already have a Post Office mortgage (like I do). in this case the best rate you'll get is 3.29 for 75ltv
#34
Rather a high rate after for my liking. I'll stick with my variable with Nationwide.
1 Like #35
mudisoft
FatherTed
75% LTV for first time buyers? So this is for the super rich only.
not quite. you can get 20% from the government through the scheme for new builds

Not on this mortgage you can't. Us plebs can't apply for a Help to Buy grant. They're part of specialised mortgage products offered by the banks. H2B mortgages tend to be only slightly cheaper than 5% deposit mortgages. Expect to pay double this price.

Can't say I agree with the other poster either; a 25% deposit on a modest home is far from the realm of the 'super rich'. In London and other expensive areas, sure, but for most of the UK it would be £30-£50k, less in cheaper parts like Stoke. Still a lot of money, but not an unachievable savings goal for many.
#36
Anyone know of any good deals on longer fixed mortgages, with an LTV of around the 40% mark?

Obviously, I'd talk to an IFA, but want to get an idea of what's out there so I know what to beat.
1 Like #37
25% deposit for a first time buyer? Keep dreaming I guess oO
#38
Couldn't see the deal on the link provided...
#39
Leeds Building Society is offering 2.44% rate on a 80% LTV, and no product fee. for first time buyers.

http://www.leedsbuildingsociety.co.uk/mortgages/fixed-rate-mortgages/fees-assisted-2-year-fixed-rate-mortgage-80-ltv/

Edited By: Roz4u on Dec 19, 2014 09:31
#40
tanked
Looks excellent. I believe Post Office loans/mortgages are handled by the Bank of Ireland

Here's some of their other rates including one thats a 1.78% for 2 year fixed
http://www.money.co.uk/mortgages/mortgage-lenders/Bank-of-Ireland-Mortgages.htm

Jumps way up though by around 1% to 3% when going for a 5 year fixed

They are indeed BOI backed mortgages

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