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Post Office to launch intermediary mortgage channel

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  • 01/05/2014
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The Post Office has announced plans to offer mortgages through intermediaries for the first time.

The lender, funded by Bank of Ireland UK, will initially offer mortgages through Legal & General appointed representatives.

A roll-out to L&G’s Noveau and directly authorised brokers will follow.

The Post Office will offer a range of first-time buyer, remortgage and buy-to-let products using an online application system.

The lender will allow brokers registrations from Thursday 8 May and promises advisers will receive ‘decisions in minutes’.

John Willcock, head of mortgages at Post Office, said: “Entering this relationship is a very important step for the Post Office as it shows we are continuing to challenge the mortgage market.

“Our business has gone from strength to strength over recent years, and this latest step will help to cement our position as a major player in the mortgage market.”

Jeremy Duncombe, director of Legal & General Mortgage Club, said: “Today’s announcement is further evidence of Legal & General’s ability to attract a major brand to our panel bringing increased choice for our appointed representatives, Nouveau and directly authorised mortgage brokers.”

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