Post Office plans to sell mortgages

Post by **Shiggaddi** » 27 Sep 2007, 16:47

The mortgages would probably not come from RM or PO coffers, but from the bank funding it.

The Post office credit card is run by an Irish bank (can't remember the name) and all they do is produce the cards, provide the finance, provide the call centre staff, and give the PO some of the profit. MBNA run similar operations with charities and football clubs. They all have a different number for customer services, but all go through to the same call centre and the phone is answered depending on which number is called.

Just the financial equivilent of DSA. There's only a handful of banks who provide credit card services, but other companies arrange to have their name printed on the card rather than the bank that issues the card.

Geordie · Post by **Geordie** » 27 Sep 2007, 18:57

Four of the biggest profit making bodies in this country are the four big banks, who make billions in profit each year.

Yet Post Office Counters have more outlets than all 4 of them put together.

But all they sell are products on behalf of someone else, who makes all the profit and gives POL a small slice of the cake.

So why POL sell their own products, and thus virtually overnight become THE biggest and most profitiable financial institution in the country. This would protect all outlets and Crown offices and thus the jobs, terms and conditions of all the membership.

Post by **Lounge Lizard** » 27 Sep 2007, 19:35

sammyboy32 wrote:With life assurance launched and broadband to launch next month...the latest mortgage product mean POL are offering a really wide range of product to the public now.

"Jack of all trades, master of none" springs to mind.

axeman · Post by **axeman** » 27 Sep 2007, 20:03

going to a delboy culture methinks can just see primark in his pin stripe suit with shiny shoes 'ere do ya wan some of these ere morgages me old china' (not wishing to ofend those who live in the east end area) ?

Post by **Lounge Lizard** » 28 Sep 2007, 19:30

Is there any truth in the rumour that Leighton and Crozier have plans for Post Offices to start selling double glazing, time share holidays and second hand cars ?

Post by **baldrick** » 28 Sep 2007, 19:41

axeman wrote:going to a delboy culture methinks can just see primark in his pin stripe suit with shiny shoes 'ere do ya wan some of these ere morgages me old china' (not wishing to ofend those who live in the east end area) ?

Actually delboy was from Peckham - a 'sarf' londoner.

axeman · Post by **axeman** » 28 Sep 2007, 21:58

ooops

armani · Post by **armani** » 01 Oct 2007, 10:17

Sick Postie wrote:No Armani I have now left RM, now I'm a mortgage adviser and making decent money at last. I still take an interest in what is happening as I have other family members who still slave away for low wages. Whenever I said loyal employees I was being sarcastic I totally support all the striking posties out there.

Oh, what a pitty. Low wages. Tell them to get in to any other high street company and start earning real wages. I'm sure all other places give a good wage of Â£5.35 - Â£6.75 p/h. Come off it, you know exactly why people stay with the Business. Its the wages that keep them there. Look at all the venom on here, do you really believe they are staying for the job satisfaction.

The reasons most stay is the belief of job for life ( now being totally ruined by destroying reputation of the brand )
Pay, nowhere pays the same for any kind of similar job
holiday and sick entitlements are among the best policies out there

But the more people get the more the expect. Just bleeding the company dry.

Anyway back to topic.

The PO financial products are provided by the Bank Of Ireland or their subsidiaries. Big shareholder in the Business.

The comment from disgruntledpostie is evidence of a total lack of understanding of how PO works at counter level. I can only assume he, like some others on here enjoys having the run and jump on the nearest bandwagon.

I will repeat again just for his attention. PO employees (counter staff) get paid bonus on all focus products, REGARDLESS of whether they are meeting any targets or not. So in simple terms, that means you will receive more than regular wage even if your office sells only 1. You dont even have to do the work disgruntled, now that would suit you I reckon.

Post by **TrueBlueTerrier** » 01 Oct 2007, 14:03

Armani I wish you would stop tarring everyone with the same brush, your comments are very sweeping.

1. I stay with Royal Mail despite the trouble going on because I respect the company and I am fighting for what I believe is right. If previous generations of Union members had not done the same in the past you would be:

a. On much lower wages.
b. Would have to stand as a mark of respect whenever a manger enters the workplace.
c. Would receive no bonuses at all.
d. Would be working longer hours.
e. Would have left school at 14 or maybe gone on to Grammar School, but if you did you would not be working where you are now.
f. Without land you would not have the right to vote.
g. If you were a woman even with property or land of a certain value you would still not be able to vote.
h. You would not have the right to withdraw labour even if the management of your work place was acting against your own interest.
i. Health and safety laws would not have been enacted.
j. Children would still be working in Mills and Mines.

2. For me I am in my Mid 40s and have only worked for Royal Mail less than 5 years so hardly a job for life.

3. Yes the pay is comparably good with where I have worked before but does that entitle Royal Mail to make me work harder, for longer and less money without me having a say in their decision. (the offer as it stands even with a 6.7% pay rise will make me WORSE OFF by an average of Â£22 per week.

4. The sick pay regime is quite good but is about to change I think.

5. Holiday entitlement is the worst I've had in 29 years of working. Last place was 45 days and I did not have to pay for any of it.

6. The disciplinary code with Royal Mail Delivery Offices is the worst I have seen, and I have served in the Forces, on which some people say their discipline is very harsh. (You can be sent to Military Prison for disagreeing incorrectly with an Officer or person of higher rank)

But hey so long as your happy and believe that you cannot fight for what you think is right, that is strangley, your right in a Demoracy to do so.

Post by **cashman** » 02 Nov 2007, 17:13

Armani, looks to me that " ALL THE VENOM ON HERE " is coming from you pal!