Tag: Post Office

Age of first-time buyers nearing 40

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 […]

September 11, 2012 More
Post Office stepping up mortgage offering

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 […]

August 9, 2012 More
Post Office warns holidaymakers over credit card charges

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 […]

August 2, 2012 More
Limit on contactless payments increases

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, […]

May 31, 2012 More
ISA nest eggs growing in value

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 […]

April 3, 2012 More
Post Office launches reward saver account

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 […]

January 10, 2012 More
Post Office boosts savings products

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 […]

December 6, 2011 More
NS&I to cease selling via Post Office

NS&I to cease selling via Post Office

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 […]

November 3, 2011 More
Post Offices to branch out by serving RBS and NatWest customers

Post Offices to branch out by serving RBS and NatWest customers

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, […]

November 9, 2010 More
Post Offices launches affordable mortgages

Post Offices launches affordable mortgages

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 […]

May 13, 2010 More
Post Office courts first-time buyers with 90% LTV interest only deal

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

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 […]

May 12, 2010 More
Post Office banking for the vulnerable

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 […]

March 31, 2010 More
Government unveils further details of the ‘people’s bank’

Government unveils further details of the ‘people’s bank’

March 29, 2010 More
Why you should check the SVR on your mortgage

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 […]

March 4, 2010 More
Mortgage rate cuts from Post Office and Northern Rock

Mortgage rate cuts from Post Office and Northern Rock

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 […]

January 23, 2010 More
Post Office increases Christmas home insurance cover

Post Office increases Christmas home insurance cover

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 […]

December 8, 2009 More
Government unveils financial plans for the Post Office

Government unveils financial plans for the Post Office

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 […]

December 2, 2009 More
Post Office rolls out new mortgage range

Post Office rolls out new mortgage range

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 […]

October 21, 2009 More
Post Office launches ‘gap year gatecrasher’ insurance

Post Office launches ‘gap year gatecrasher’ insurance

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. […]

September 8, 2009 More