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Post Office and Principality among lenders cutting rates for New Year rush

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  • 22/12/2017
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Post Office and Principality among lenders cutting rates for New Year rush
Post Office Money and Principality Building Society are among the lenders that have this week cut fixed-rate mortgages ready for the New Year - and a potential rush of new movers and buyers in January.

Post Office has reduced its five-year fix at 85% loan to value (LTV) to 2.44%, which comes with no fee and £500 cashback.

Moneyfacts.co.uk said the deal is reasonably priced and is an attractive option for borrowers “looking for a recognised brand”.

At the same time, Principality has sliced its two-year fixed rate at 90% LTV to 2.15% – the deal is fee-free and is now in Moneyfacts.co.uk best buys for first-time buyers.

It comes after Accord dropped rates on 15 mortgages, as well as increasing cashback.

And Halifax has trimmed selected five-year rates and introduced new three-year rates.

Clydesdale Bank has also cut certain fixed-rates by up to 0.3%.

Charlotte Nelson from Moneyfacts.co.uk said: “It continues to be the case that the market is competitive and lenders are still launching some decent offers to entice new borrowers ahead of prospective activity in Janauary.”

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