Building Societies best for mortgage deals
The top mortgage deals are to be found among building societies rather than banks, it has been revealed.
Building societies, such as Alliance & Leicester and Bristol & West, appear more often in the top 250 UK mortgage deals than the big banks, according to thisismoney.co.uk.
The research reveals that 70 per cent of top deals come from building societies, with only 11 per cent of the top ten mortgage lenders appearing on the list.
Julie Harris of price comparison website Moneyfacts told thisismoney.co.uk: “Take the time to shop around, and don’t assume that bigger means better.
“Making one of your biggest financial decisions should not be based upon brand or the perceived convenience of your existing lender.”
The news follows reports in October that the number of mortgage products on the market has reduced by 40 per cent, affecting the choice and hence price of products for borrowers.
