Intrinsic has added Post Office for Intermediaries to its lender panel.
Post Office for Intermediaries has launched two mortgage propositions that are now available to Intrinsic advisers. These include the Post Office Family Link TM and Post Office Retirement Link TM.
Gemma Harle, managing director of Intrinsic Mortgage Network, said: “According to research from the Institute for Fiscal Studies (IFS) two in three middle-income young people owned their own property 20 years ago.
“The same research shows that in 2015-16, this had dropped to just one in four. Such statistics serve to highlight how crucial it is new innovative products hit the market which are aimed at helping young people get onto the property ladder.
“For that reason, it is a real pleasure to add the Post Office with its original product range to our mortgage panel. Providers like the Post Office are helping to tackle the lack of young people owning their own homes.”
Post Office Family Link TM helps customers who have good affordability, but are struggling to save a deposit. The product allows them to raise a 10% deposit against a close relative’s unencumbered property to support the purchase of a first home.
Post Office Retirement Link TM offers retired customers the ability to take out a residential mortgage and use a portion of their pension to help fund it.
The product is available as capital and repayment or interest-only, with a maximum loan of £500,000. Interest-only has a maximum LTV of 30% up to age 80, with capital and interest having a maximum LTV of 50% up to age 90.
Alison Pallett, director of sales at Bank of Ireland UK said: “We’re delighted to be joining Intrinsic’s panel. This latest addition further illustrates our commitment to the broker channel and extending Post Office for Intermediaries distribution across the UK mortgage market.’’