Post Office to lend £2.5bn by year end

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The Post Office has today launched a major assault on the mortgage market with its intention to lend £2.5bn by the end of the year.

Post Office will increase the amount it lends in response to unprecedented demand from movers, first-time buyers and those looking to remortgage.

John Willcock, head of Post Office Mortgages, said: “We want to become a top ten mortgage provider and continue to provide customers with some of the best mortgage deals in the market place.

“The market is growing and we fully intend to increase our presence in this space, by continuing to listen to our customers and offer the deals they want, in the way they want.

“We have seen our business grow considerably over the last six months. No two mortgage customers are the same, and by offering them the choice of taking out a mortgage online, through a contact centre, or face-to-face through one of our mortgage specialists, we are able to ensure that we’re providing the best possible service to those making one of the biggest financial decisions of their lives.


“The Post Office continues to position itself as a key challenger to the high street banks by putting the customer at the centre of everything we do.”

The Post Office will also build upon the success of its Mortgage Specialists service launched in five branches in August 2012.

Fifty mortgage specialists will be in place by the end of June with plans to increase this number by the end of the year in branches across the country.

Post Office’s Mortgage Specialists mark its continued commitment to changing the way mortgages are sold throughout the network by providing customers with a genuine alternative to major high street banks.