October 2017 saw Post Office launch the first of its new mortgage propositions, First Start, offering a new way for first-time buyers to get their foot on the property ladder.
First Start allows customers to increase their borrowing power by using a sponsor’s income, as well as their own, to boost how much they can borrow and make their dream of owning a home a reality. The sponsor helps their loved ones purchase their home without having to contribute to a deposit.
April 2018 will see us responding to customer needs once more through the launch two new and exciting products:
Post Office Family Link ™ – Enabling parents or close relatives to help loved ones fund their deposit by using the value in their home. It is aimed at first time buyers who can afford monthly repayments but are struggling to save for a deposit, and parents who want to help their children get on the property ladder but don’t have a large cash sum available.
Post Office Retirement Link ™ – Helping customers borrow into retirement and free up funds from their home so that they can live the life they want. Like a traditional mortgage, customers can choose an interest only or a capital repayment plan.
Chrysanthy Pispinis, Post Office Money Director, said: “Our new mortgage products are designed to fill a clear gap in the market and respond to changing customer needs. Post Office is offering customers more choice, giving first time buyers a real opportunity to get on the property ladder and enabling customers into retirement release value from their home.
“In line with our social purpose, we are addressing and removing a few of the hurdles customers face, further strengthening our position as a relevant and credible financial services provider.”
Look out for more information on our upcoming marketing campaign coming soon!