Post Office to offer mortgages across its local branch network

POST Office customers will be able to pick up a mortgage alongside their book of stamps, under a pilot scheme launched yesterday.

Trained mortgage advisers are now available in five of the organisation’s outlets – Birmingham, Solihull, Walsall, Luton and Norwich – to offer free consultations as part of the firm’s push to become one of the biggest lenders in the UK.

The scheme will be rolled out to other branches as the year progresses.

“We are one of the fastest growing financial services providers in the UK and we are constantly looking at ways to offer new services to our customers. By introducing mortgage specialists in our branches, we are taking the next step in fulfilling our ambition to become one of the best providers in the market place and to be a genuine alternative to the established high street providers,” said Mike Cook, head of Post Office Mortgages.

Mortgages have been available from the Post Office website since 2009, one of a range of banking products it offers through an arrangement with Bank of Ireland. But an in-store presence is a key part of a move into mainstream banking.

The government is keen to encourage challengers to the traditional high street lenders, with supermarket firm Tesco launching its own mortgage product earlier this week.