Good Service from Post Office Mortgages

Claire1987_2

I have applied for a PO mortgage also, sent my full application last night, got a call today asking me to pay the valuation fee then a text message straight away to say the valuation had been instructed. So far everything is happening really quickly so fingers crossed it will continue like this. I was originally very worried about the whole process but quite happy now that it seems to be going smoothly. Great service so far. Also, any time iv phoned they have been really helpful!

jockosjungle

They also give some idea what they think is a clean credit history on their site and tell you the valuation fee upfront without having to apply.

If you are a bit unsure whether you can get a mortgage they are good because they are fast to come to a decision (normally less than 24 hours) and instruct a valuer soon after. If you are unsure you can get a mortgage you can get a decision looked at by a real person before spending any solicitor fees

R

FTBFun

I agree with everything on here re Post Office mortgages, although technically they're Bank of Ireland so a :T to them too!

AIP was completed a while back, and I progressed to full application on Wednesday last week. Survey was booked and carried out on Friday, and I received my full mortgage offer yesterday which I'll send out today. Good service all around, I just have to worry about the legal stuff and whatever comes in the Homebuyer report now!

jockosjungle

True really they are a mortgage broker for Bank of Ireland I think, my formal offer said that they'd be paying the Post Office about £300 for their services

R

mrspoons

Got my application with the post office and everything was approved and sorted within 2 weeks.

Extra bonus was we applied for the 4.99 fixed for 5 years and when the completion letter came through it had been put down to 4.75 fixed without me having to do anything

jockosjungle

Should be exchanging next week so I'll let you know it completes ok. My solicitor says the BOI need 3-5 days to transfer the funds

bOingball

jockosjungle wrote: »

Should be exchanging next week so I'll let you know it completes ok. My solicitor says the BOI need 3-5 days to transfer the funds

I'm half way through the Solicitor stage on my Post Office mortgage

All went smooth and it's now just left with Stoke on Trent talking to Gateshead solicitors ;-) (This is due to using the LMS panel through the Post Office - there choice of Solicitor is based in Stroke on Trent)

Mind you the solicitor I have has been great and you can always track the status of the case on trackmycase.com

I'm in no rush either I've got 3 months left on my rent tenancy agreement :rotfl: - I'm guessing I'm 2/3 weeks away from exchange and I might see if I can force a complete a month after that.

If not no biggy, just means I'm paying rent a mortgage for a couple of months (booo!) - There goes the holiday I wanted this year.

bOing

jockosjungle

Thought I'd post an update, just received a congratulations text message from the PO saying they've transferred funds to my solicitor in anticipation of completion tomorrow!

I've gone from offer acceptance to completion in just under six weeks and couldn't be happier.

I should note however that the Post Office rates whilst still the same as they were, have now been bettered by a number of companies at 90% LTV, who are offering a combination of cheaper fees and rates

Co-Op - 2 Year Fix 4.99% £499 fee
Yorkshire BS 2 year fix 4.95% £995 fee

Can't vouch for the service on these lenders or how fussy they will be, but its good news for FTB's as rates seem to be falling steadily!

R

Msmer1973

My experiences with PO haven't been quite as good I'm afraid. Everyone is right in that you get through the AIP and Application stages super quick. My problem was with the misinformation provided by their call centre staff when I was making initial enquiries about getting a mortgage and a mortgage estimate, and explaining my personal circumstances to them in detail so I could get an initial indication as to whether their underwriters would ultimately say 'yes'.

Only thing I would recommend to anyone reading this somewhat negative post is to really take the time to engage with the call centre staff before you apply including getting them to check things with underwriters and making notes of this on your enquiry file (it's not just a recommendation for dealing with PO but any prospective lender really).

To be fair to PO (well, Bank of Ireland) the underwriter who is assessing my application is now doing her best to set things right including volunteering to open a complaint record for me. It's just not happening fast enough and means that my seller is getting very toey as the surveyor hasn't yet been sent round to value the house :-(

jbsurrey

Funds have arrived today and complete tomorrow - stunningly good service by PO/BOI.