Post Office bid to become mortgage heavyweight in UK
The UK’s Post Office Ltd is introducing specially-trained mortgage specialists into its branches to take the next step in growing its mortgage business. The company said the move will change the way mortgages are sold throughout its network, as it seeks to position itself as a “genuine alternative” to the major banks and become a top-ten mortgage provider.
Post Office Ltd will initially introduce the mortgage specialists into five branches, to help individuals including first-time buyers and those looking to move house or switch to a better deal.
The first specialists will be available in main branches within Birmingham, Solihull, Walsall, Luton and Norwich, the company said.
The programme will then be rolled out on a larger scale in the coming months.
Mike Cook, head of Post Office mortgages, said: “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.”
Post Office Ltd also has new software helping customers find out how much they could borro and view product features and repayment details. The company also has online and phone services to service customers who cannot access in-branch services.
Biometrics
Meanwhile, Post Office Ltd has just passed the 1.5m mark for the number of applicants it has enrolled through its identification service.
The Post Office uses 3M Cogent’s Biometric Enrolment Stations to capture application information including fingerprints, photographs and digital signatures.
The Applicant Enrolment Service works with various clients including the Driver Vehicle Licensing Authority and the UK Border Agency.
The DVLA uses the service to allow drivers to renew their drivers licence. The UK Border Agency requires non-European nationals staying in the UK for more than six months to have their biometric information recorded for a residence permit.
Post Office Ltd has more than 750 locations in the UK where the service is available, with the information capture process taking about five minutes to complete.
Martin Moran, the commercial director of Post Office Ltd, said the Post Office was able to provide a “friendly face” and secure, local point of contact for people to provide their personal data.
He said: “Our long history of delivering essential government services has made a significant contribution to the success of the AEI service and further cements our credentials as a front office for government.”
