A simples guide

Post Office Mortgages

The Post Office has long been a pillar of the community, but this British institution has branched out into the financial services sector and it now offers a range of mortgages to go along with their savings accounts.

It’s important to make sure that you are getting the best value on your mortgage though, which is why it’s a good idea to compare products from multiple providers. You can do so in just a few minutes via our mortgage comparison service.

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What are the benefits of the Post Office compared to a traditional bank?

The main difference between providers will be the terms and conditions of each mortgage. These are different for every lender so make sure you check them carefully before deciding who to take out your mortgage with.

When deciding on any large financial commitment it’s important that you take the time to consider which lender best suits you. In terms of managing your mortgage there should be little difference between the Post Office and having a mortgage with a bank. What’s more, the Post Office is an appointed representative of the Bank of Ireland so you have the security that they are backed by a bank. It’s all managed online and so there is just one simple rule, which is to make sure that you make your mortgage payment on time every month.

So once you’ve secured your mortgage, the only thing left to do is to sit back and enjoy your new home.

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Fixed Rate vs Tracker: Which Post Office mortgage to go for?

A fixed rate mortgage offers the security of knowing exactly what your payments will be for the agreed time period, regardless of what happens to the Bank of England base interest rate.

Alternatively, you can apply for a tracker mortgage which often means lower repayments to start with but this rate can rise or fall with the Bank of England base rate so your monthly payments could change.

What types of mortgage does the Post Office offer?

The Post Office’s mortgages cover the usual suspects from tracker and fixed-rate mortgages through to buy to let deals.

The Post Office’s fixed rate mortgages are flexible to your circumstances and interest rates vary upon the deposit you provide, length of the mortgage and fee assistance options.

Remember there are early repayment charges that may apply should you want to pay off the mortgage early.

Finally, the Post Office also offers Buy to Let mortgages for those looking to purchase and let a second property.

Is a Post Office mortgage right for me?

The Post Office could be a great option for your mortgage. However, to make sure you’re getting the right deal, you should ensure that you have compared mortgage providers to get the deal that offers the best terms for you.

You can compare a whole range of leading mortgage providers via our mortgage comparison service in just a few quick clicks, which could potentially save you money on this significant investment.

All Post Office mortgage rate and deposit details are based on information provided on postoffice.co.uk data on 4 November 2016

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