Good mortgage deals offered by small lenders
by Gill Montia
Moneyfacts.co.uk is advising homebuyers to check out the mortgage deals offered by the UK’s smaller lenders.
The price comparison website has found that just 68 of the 250 mortgages it compared are provided by the UK’s top ten lenders.
Denise Harvey, mortgage analyst at Moneyfacts, comments: “Post credit crunch some of the larger lenders have appeared to have suffered the most, previously they had been able to fund a large section of their lending through the money markets, but today that just isn’t possible.”
She adds: “From the results it is clear that the larger institutions with smaller subsidiary companies, such as RBS Group with brands such as First Active, NatWest and Direct Line and its Irish subsidiary Ulster Bank, are offering more competitive mortgages.”
According to the research, the lender with the greatest number of competitive mortgages is RBS, with 26 worthwhile deals.
However, borrowers who have found a home loan that suits their circumstances should act speedily as there is a growing trend for mortgage lenders to withdraw popular products at very short notice.
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