Thursday 9 August 2012
The Post Office has started to sell mortgages in its high street branches to rival other high street lenders.
The Post Office has already offered mortgages via online and telephone services and has taken the next step by offering mortgages in store. It has provided mortgage specialists in its Birmingham, Luton, Norwich, Solihull and Walsall branches and will be looking to extend the specialism to its other stores over the next few months.
The Post Office service will provide customers with a free appointment to ensure they can make informed decisions about their products though no regulated advice will be supplied.
Their new mortgage software will allow customers to find out how much they are entitled to borrow in addition to repayments and product features. The system has been designed to provide customers with a printed approval in principle or full mortgage application in a few minutes.
The Head of Mortgages at the Post Office, Mike Cook noted on mortgagestrategy.co.uk that: “We understand that taking out a mortgage is one of the most important financial decisions you have to make. Finding the right one can be a complex process and this is one of the reasons why we have introduced our specially trained mortgage specialists to assist our customers through the process.”
“If there is any sign of confusion on the part of the customer, we would recommend they seek independent financial advice but we would not direct them to any specific firm or consultant. It does not come up an awful lot as most people have an idea of what they want by the time they approach us.”