Just taken out a post office mortgage thought i would give my experience

mummyemma

Hi

When I was doing research I couldnt find a lot on post office mortgages and peoples reviews so thought it might be helpful to share my experience. Offer accepted on a house on 20th March application submitted at 7pm that night after getting an agreement in principle from them for a 90% mortgage.

The very next day had phone call from the underwritter to say he had assessed us and was happy and if we were he would book valuation. We agreed and he said letter would be in post asking for last 3 months payslips. Vaulation booked for 29th.

This was carried out and payslips sent in. Phone call on 1st April saying mortgage offer in the post an arrived the very next day. Signed and returned. We exchanged and completed yesterday 38 days from us putting in our offer on the house.

I have to say the post office staff were always helpful, answered any questions I had, happy to update me and kept me up to date with text messages of the progress been made. They had no issue with our parents gifting us some of our deposit (most came from our savings)

Would I use them again yes very happy with service so far.

Hobbers83

That's really useful feedback Emma. I'm in the process of applying for a mortgage with the post office and know that they have instructed valuation and sent a letter asking for payslips, etc. I was wondering whether they instruct valuation before they are happy with the application (given that you are paying for it not them) but it seems from what you say they only do so if they think they are going to go ahead and lend the money which has made me feel a bit more confident!

mummyemma

Hi

I asked that question as didnt want to spend money on valuation for them to say no. They said they do not do a valuation until they are happy with everything. I have checked my credit file I can see they checked me when doing a AIP and then did a generic check the day after I applied for mortgage. Then the day after the vaulation they did another generic check.

Hope that is some help I think for application to an offer was 10 working days and we had to wait a week for the valuation

let me know if I can help any more