For the fourth time this year, the Post Office has announced cuts to its fixed-rate mortgages .

According to the lender, the reductions reflect its ambition of becoming a leading player in the UK mortgage market by offering consumers long-term good value products.

Following rate cuts in the first three months of the year, the Post Office has decided to reduce the rates on its two and five-year fixed-rate mortgage deals at 60 per cent, 75 per cent and 80 per cent loan-to-value (LTV).

And Marco Hughes, Post Office director of personal lending, claimed that the provider is constantly challenging traditional high street lenders.

He added: To support this we are dedicated to growing and expanding our mortgage range and expect to announce further new rates and products in the near future.

In March, the Post Office announced rate cuts to its full range of fixed-rate mortgage products.

Indeed, the lender opted to lower the rates on all of its two, three and five-year fixed-rate deals at 60 per cent, 75 per cent and 80 per cent LTV.