Post Office re-enters buy-to-let market
Post Office, along with its financial services partner, Bank of Ireland, has today announced the launch of a series of buy-to-let mortgage deals, cementing its position as one of the leading challengers to traditional high street mortgage lenders.
The new offering will include a strong range of fixed rate products, with deals at both 60% and 75% LTV for two, three and five year mortgages. Certain deals come without an arrangement fee and include a free valuation and legal package.
Post Office has continued to address the challenges and opportunities presented by the market since the launch of its mortgage offering in 2009. This latest move will support the business in its plans for growth, and provide further choice for borrowers in a competitive market.
The new deals will be available online or over the phone from February 14th 2014.
John Willcock, head of mortgages at Post Office said: “Post Office’s mortgage offering has gone from strength to strength since its launch. We constantly review our product range and move quickly to respond to customer demand and changes in the market. There has been a significant increase in the demand for buy to let mortgages in the last 12 months as more borrowers begin to consider the rental market.
“We are committed to offering all borrowers competitive mortgages that address their needs – whether they’re a first-time buyer, someone looking to move up the property ladder, or someone looking to take out their first buy to let mortgage.”
Mike Joyce, director consumer banking at Bank of Ireland UK said: “We are delighted to enhance the range of products offered through our longstanding partnership with the Post Office. Bank of Ireland UK is committed to introducing innovative and competitively priced products to benefit our customers, as well as generate business growth and long-term value for both organisations.”
