You are here: Home - News -

Post Office to launch broker range next week

by: Samantha Partington
  • 29/05/2014
  • 0
Post Office to launch broker range next week
The Post Office will make its mortgage products available through a newly established intermediary distribution channel from Monday 2 June.

The range, which is initially available solely through the Legal & General Mortgage Club, will include a 1.98% two-year fixed rate and a 3.15% fixed for five years available up to 75% loan-to-value with a fee of £995.

First-time buyers can access a two-year fixed rate at 3.79% up to 90% LTV with a fee of £495 while rates of 4.55% fixed for three years and 4.95% for five years will be available both without product or valuation fees.

The Post Office announced its intention to move into the intermediary market at the beginning of the month after stating that it intended to become a top ten mortgage lender in 2014.

John Willcock, head of mortgages, said the products will be available through its branches, online and via brokers in attempt to increase its market share and achieve its ambition.

He added: “Buying a house is a big decision and we recognise the importance of offering customers a choice in how they do this.”

Jeremy Duncombe, director, Legal & General Mortgage Club, said the products were competitive and he expected to see good demand for L&G’s members.

The range includes buy-to-let and remortgage products.

 

 

There are 0 Comment(s)

You may also be interested in