Post Office plans to sell mortgages

Sick Postie · Post by **Sick Postie** » 26 Sep 2007, 23:02

That's right if you take out any policies to cover the mortgage they get a cut of that too. The normal is 2 years worth of premuims so a policy that costs you Â£20 a month will make them Â£480!!

DGP1 · Post by **DGP1** » 26 Sep 2007, 23:07

Sick Postie wrote:That's right if you take out any policies to cover the mortgage they get a cut of that too. The normal is 2 years worth of premuims so a policy that costs you Â£20 a month will make them Â£480!!

Hope all you counters people work out how much RM will make out of this

armani · Post by **armani** » 27 Sep 2007, 00:42

Sick Postie wrote:Plus they will make money on just selling you the mortgage, the lender will pay them a % of the amount taken out ie on a mortgage of Â£150,000 they could get nearly Â£700. Bet they won't be passing this on to their loyal employees.

By loyal, do you mean the ones that don't strike?

Haha, you make me laugh. Clearly, you were a mortgage advisor prior to your job with RM as you are able to state your facts and figures. ''They could get nearly Â£700. What a statement.

Hi Axeman, I'm here

armani · Post by **armani** » 27 Sep 2007, 00:46

disgruntledpostie1 wrote:
Sick Postie wrote:That's right if you take out any policies to cover the mortgage they get a cut of that too. The normal is 2 years worth of premuims so a policy that costs you Â£20 a month will make them Â£480!!
Hope all you counters people work out how much RM will make out of this

What route are you looking to take on this then.

Suggest that the pay us the profit and let us pay rent on the building, rates, utilities, advertising from it?

Why do we need to know how much they make from it? As long as we are getting our wage come the end of the month. It makes no odds.

If thats the case, they are currently loosing money every day. On average we loose Â£500 everytime we open for business. Should they remove that from our wages until we start making money again.

What a seriously pathetic arguement

DGP1 · Post by **DGP1** » 27 Sep 2007, 10:22

armani wrote:
disgruntledpostie1 wrote:
Sick Postie wrote:That's right if you take out any policies to cover the mortgage they get a cut of that too. The normal is 2 years worth of premuims so a policy that costs you Â£20 a month will make them Â£480!!
Hope all you counters people work out how much RM will make out of this
What route are you looking to take on this then.

Suggest that the pay us the profit and let us pay rent on the building, rates, utilities, advertising from it?

Why do we need to know how much they make from it? As long as we are getting our wage come the end of the month. It makes no odds.

If thats the case, they are currently loosing money every day. On average we loose Â£500 everytime we open for business. Should they remove that from our wages until we start making money again.

What a seriously pathetic arguement

Please let me know how pathetic letting people know how much money RM will make out of selling these mortgages is unless you think that you should just sell sell sell and expect no reward for it (oh I forgot you do think that

).

Post by **TrueBlueTerrier** » 27 Sep 2007, 10:38

armani is

again I think.

armani · Post by **armani** » 27 Sep 2007, 10:46

Not at all TBT.

It was a pathetic statement. How much POL/RM make is irrelevant to us. The people that do not need to look for an arguement from it know that. We always have made bonus from focus products. We do not need to know how much they make from it. Simple as that. Unless its for what I posted above, they pay it all to us and we divvy it around all the out-goings. What a silly piont to make from a product launch.

So, for your info diss-gruntler, no we do not expect to sell with no reward. WE expect to introduce the product and we WILL receive Reward for doing so. So arguement busted. Got any '' VALID '' ones.

DGP1 · Post by **DGP1** » 27 Sep 2007, 11:35

armani wrote:Not at all TBT.

It was a pathetic statement. How much POL/RM make is irrelevant to us. The people that do not need to look for an arguement from it know that. We always have made bonus from focus products. We do not need to know how much they make from it. Simple as that. Unless its for what I posted above, they pay it all to us and we divvy it around all the out-goings. What a silly piont to make from a product launch.

So, for your info diss-gruntler, no we do not expect to sell with no reward. WE expect to introduce the product and we WILL receive Reward for doing so. So arguement busted. Got any '' VALID '' ones.

I'm sorry I forgot you were such a firms man who only thinks about the company and is happy for what little they throw your way. So if RM make 1-2k out of each mortgage you'd be happen just with your regular wage (they may even throw you a couple of quid for being such a good boy)

Stormproof · Post by **Stormproof** » 27 Sep 2007, 11:47

Wish I earnt enough to get a f**king mortgage!!

Sick Postie · Post by **Sick Postie** » 27 Sep 2007, 12:36

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.

DGP1 · Post by **DGP1** » 27 Sep 2007, 12:47

Don't worry Sick Postie Primark is just baiting you (he's a master of it

)

Post by **sammyboy32** » 27 Sep 2007, 15:12

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.

IWW Fellow Worker · Post by **IWW Fellow Worker** » 27 Sep 2007, 15:38

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.

There's nothing new there though. Someone is probably getting paid quite a bit to come up with ideas, when all they seem to be doing is lifting existing ones. Personally, I won't be swapping my mortgage from the Halifax, which is a reputable business, to the Post Office which looks more and more a tin-pot operation (a bit like Royal Mail really). I remember when RM decided everyone had to have their wages paid into a bank, and it had to be Giro Bank. Just as soon as RM backed down and allowed other banks, most people gave Giro Bank the elbow and switched to real banks. I doubt anyone would take the PO seriously as a motgage lender.

Post by **TrueBlueTerrier** » 27 Sep 2007, 16:21

I for one would never trust the POL Board so would never get a mortgage from them. I can see at 50/50 chance of a Northern Rock happening at some point with those 2 in charge.

IWW Fellow Worker · Post by **IWW Fellow Worker** » 27 Sep 2007, 16:24

TrueBlueTerrier wrote:I for one would never trust the POL Board so would never get a mortgage from them. I can see at 50/50 chance of a Northern Rock happening at some point with those 2 in charge.

Northern Rock would be an incentive to those two.