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News Tag: Post Office

September 11, 2012

Age of first-time buyers nearing 40

by Jan Harris
Age of first-time buyers nearing 40
New research by Post Office Mortgages reveals that many first-time buyers are nearing the age of forty before they can afford to purchase a home. Most will have to save for a decade in order to afford a deposit on a mortgage, the survey suggests. Post Office Mortgages asked 1,300 homeowners how old they were when they bought their first ...




August 9, 2012

Post Office stepping up mortgage offering

by Jan Harris
Post Office stepping up mortgage offering
The Post Office is expanding its mortgage service with the introduction of mortgage specialists in its branches. Mortgages have been available from the Post Office since 2009, but applications have had to be made online or over the phone. It currently offers mortgage with deposits as low as 10 per cent and plans to enhance its range in the near future. The ...




August 2, 2012

Post Office warns holidaymakers over credit card charges

by Jan Harris
Post Office warns holidaymakers over credit card charges
The Post Office is warning travellers to be aware of charges for using their credit card abroad. Travellers who don’t have a fee-free card could be charged as much as 2.99 per cent each time they use their card, which could bump up their bill when they return home. Research by Post Office Credit Card reveals that travellers could tot ...




May 31, 2012

Limit on contactless payments increases

by Jan Harris
Limit on contactless payments increases
Tomorrow will see the limit on contactless payments increase from £15 to £20, bringing the UK in line with the 25 euro limit in the eurozone. The technology is growing in popularity in the UK as more retailers provide contactless payment terminals in their stores. Fifty-five UK retailers now accept contactless payments, including McDonalds, Greggs, Boots and Spar. The system helps retailers reduce ...




April 3, 2012

ISA nest eggs growing in value

by Jan Harris
ISA nest eggs growing in value
UK savers are putting more into their ISAs, with the average balance growing by 14 per cent to £8,949 over the year to January 2012, according to new research by the Halifax. The national average ISA balance has been on an upward trend since February 2009, when it stood at £7,269, with the 2011 figure representing an increase of 23 per cent ...




January 10, 2012

Post Office launches reward saver account

by Jan Harris
Post Office launches reward saver account
The Post Office has strengthened its range of savings products with a reward saver account offering 3 per cent interest and a notice period of only 30 days. If savers make a withdrawal without giving 30 days notice, they will lose 30 days interest on the amount withdrawn. The interest rate includes a 1.25% bonus for the first year. Like all Post ...




December 6, 2011

Post Office boosts savings products

by Jan Harris
Post Office boosts savings products
The Post Office has extended its promise to match the Bank of England Base Rate percentage changes on its savings products, until 1 January 2013. The promise, which was originally planned to run until 31 March 2012, covers the Post Office’s Instant Saver, Reward Saver, Cash ISA and Easy Saver accounts. The Post Office has also announced unlimited free withdrawals from Instant Saver ...




December 1, 2011

NS&I warns savers over changes to accounts

by Jan Harris
NS&I warns savers over changes to accounts
National Savings & Investments (NS&I) will write to holders of its Investment Account this month, warning them about major changes. From 21 May 2012 savers will no long be able to deposit or withdraw money from Investment Accounts at post offices with a passbook. The account is becoming postal-only and savers will receive postal statements, which will supersede the passbook. The ...




November 3, 2011

NS&I to cease selling via Post Office

by Kay Mitchell
”NS&I
From November 28, National Savings and Investments (NS&I) will cease selling its accounts via the Post Office. It has been announced that the Government-backed NS&I will no longer sell investment or easy access savings accounts over the counter at the Post Office. NS&I runs Premium Bonds and a variety of savings products. However, from the end of the month, its savings accounts will ...




November 9, 2010

Post Offices to branch out by serving RBS and NatWest customers

by Kay Mitchell
”Post
It has been revealed today that customers of Royal Bank of Scotland (RBS) and NatWest will be able to access their bank accounts through Britain's 12,000 post offices. The announcement comes after Postal Affairs Minister, Edward Davey, recently said he was concerned that some banks do not allow customers at post offices to conduct transactions, unlike ...




May 13, 2010

Post Offices launches affordable mortgages

by David Masters
The Post Office has launched a new range of mortgages targeted at first time buyers. Consumers can take out the new mortgage products with a deposit of just 10%. The two-year, three-year, and five-year fixed rate mortgages have interest rates between 5.45% and 5.99%. A tracker mortgage is also available at 5.49%. Marco Hughes, director of personal lending at the Post Office, said: "Whilst there are existing 90% deals available, ...




May 12, 2010

Post Office courts first-time buyers with 90% LTV interest only deal

by Gill Montia
”Post
The Post Office has launched new mortgage deals with first-time buyers in mind. The lender is not only happy with a minimum deposit of 10% but is also allowing borrowers to choose between an interest only and capital plus interest repayment option. For a two-year fix the rate is 5.45%, for a five-year 5.99%, and both loans come ...




March 31, 2010

Post Office banking for the vulnerable

by David Masters
Post Office banking for the vulnerable
The Post Office is set to launch a new range of banking services aimed at people on low incomes. The plans the revamp the institution, backed by £180 million government funding, will help to ensure the future of the group's 11,500 branches. New accounts will include a "weekly budgeting account", designed to help people on low incomes save money by paying their bills ...





March 4, 2010

Why you should check the SVR on your mortgage

by David Masters
Why you should check the SVR on your mortgage
Millions of homeowners across the UK have no idea what interest rate they're paying on their mortgage, according to research by Post Office Mortgages, A poll by the lender found that while 35% of borrowers are currently on a standard variable rate (SVR) mortgage, 28% - around 3 million homeowners - don't know what rate they're paying. The Post Office ...




January 23, 2010

Mortgage rate cuts from Post Office and Northern Rock

by Gill Montia
”Mortgage
Both Northern Rock and the Post Office have launched new mortgage deals with lower rates. The Post Office has cut the cost of its Bank of Ireland lifetime tracker loans from 3.29% to 2.99%, or from 3.59% to 3.49%, dependent upon the loan-to-value ratio. Bank of Ireland has also reduced the price of its five-year fixed-rate offering by 0.5% ...




December 8, 2009

Post Office increases Christmas home insurance cover

by David Masters
The Post Office has decided to spread a bit of Christmas cheer to its home insurance customers by increasing their level of cover during December. According to the Post Office, the 10% extra cover on contents insurance means people don’t need to worry about the gifts they’re buying for friends and family getting damaged or stolen. "The last thing you want to have to worry about over Christmas is whether you have ...




December 2, 2009

Government unveils financial plans for the Post Office

by Kay Mitchell
”Government
The Government has outlined plans for the Post Office to become a ‘people’s bank’ by offering financial products. The proposals, led by Business Secretary Lord Peter Mandelson, will create a ‘People’s Bank’, which will see Post Office outlets as the backbone of a new national bank. According to the Government, the plans will turn the Post Office into "a leading player ...




October 21, 2009

Post Office rolls out new mortgage range

by Gill Montia
”Post
The Post Office says it is rolling out a new mortgage range, following a two-year pilot in various regions of the UK. The offering includes a base rate tracker, two and three-year fixed-rate loans and a five-year fix at up to 60% loan-to-value ratio, at 5.09%. A £599 fee applies to all. The lender claims the five-year fix is a market leader, ...




September 8, 2009

Post Office launches ‘gap year gatecrasher’ insurance

by David Masters
”Post
The Post Office this week launched travel insurance for "gap year gatecrashers". The insurance, aimed at over-65s who want to travel overseas on a regular basis, provides year-round, multi-trip cover. The upper age limit of the cover is 74, and policyholders can choose to add optional extras including extended baggage, excess waiver, and golf cover. Research by the Post Office found a fifth ...