Post Office goes back to basics
Mortgages for professionals look set to get a lot less complicated with the newly announced Post Office mortgages.
A range including fixed-rate, buy-to-let and self-certification products are being trialled by the lender in a bid to bring simplicity back to what has become an increasingly complicated and competitive market.
The Post Office has undercut the entire market with its new three-year fixed-rate mortgage deal, offering customers at selected branches a rate of 5.64 per cent with a fee of only £399.
According to Post Office director Gary Fitton, the trial is "investigating the need for more straightforward mortgages".
This could work very much in the favour of professionals such as investment bankers, solicitors, barristers and accountants, whose often complicated work demands could benefit from a product offering no hidden charges.
Commenting on the new trials, Mr Fitton said that it provided "good initial and long-term value with no hidden charges".
The announcement follows research by Abbey Mortgages suggesting that some consumers are considering second or even third jobs in order to afford current high-rate mortgages.
A range including fixed-rate, buy-to-let and self-certification products are being trialled by the lender in a bid to bring simplicity back to what has become an increasingly complicated and competitive market.
The Post Office has undercut the entire market with its new three-year fixed-rate mortgage deal, offering customers at selected branches a rate of 5.64 per cent with a fee of only £399.
According to Post Office director Gary Fitton, the trial is "investigating the need for more straightforward mortgages".
This could work very much in the favour of professionals such as investment bankers, solicitors, barristers and accountants, whose often complicated work demands could benefit from a product offering no hidden charges.
Commenting on the new trials, Mr Fitton said that it provided "good initial and long-term value with no hidden charges".
The announcement follows research by Abbey Mortgages suggesting that some consumers are considering second or even third jobs in order to afford current high-rate mortgages.
