The Post Office has reduced rates on fixed rate, trackers, and buy-to-let mortgages. It has also launched a new 65% LTV deal at 2.85%.

The fixed rate cuts apply on all ranges up to 85% LTV across two, three and five year options. Lifetime trackers are reduced at 80%, 85%, and 90% LTV.

Rates have also been cut across the three and five-year fixed options, by 0.64% and 0.60% respectively.

The Post Office says it has an “ongoing ambition”” to be a leading player in the UK mortgage market.