Post Office to trial mortgage products

01 October 2007
The Post Office is trialling new mortgages at selected branches in the North of England following what it describes as a “succession of well-received financial product launches”.

The Post Office is now the fastest growing financial services provider in the UK and says it has decided to launch a trial because it feels the market has a need for “straightforward mortgages”.

There will be three mortgage products available during the trial: a three year fixed rate, a three year fixed rate buy to let and a three year discount self certification mortgage and each will have a fixed fee of £399.

“We believe there is a real need for straightforward mortgage products, which don’t entice customers with headline grabbing rates and then penalise them with huge fees,” said Gary Fitton, director of lending at the Post Office, “this is why we have developed products with good initial and long-term value.

“Throughout the duration of the trial we will be assessing whether this belief stands true. At the same time we will ensure we provide the products and the service quality expected from the Post Office. A formal evaluation will take place at the end of the trial, which will inform how we proceed,” he said.

The Post Office Mortgages are provided in conjunction with Bristol and West, and customers can register their interest at a trial branch or via the Post Office website.

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