HSBC named most consistently competitive mortgage lender

HSBC named most consistently competitive mortgage lender

Online mortgage broker, mform.co.uk, has named HSBC as the most consistently competitive mortgage lender during the third quarter of 2008.

The research is based on the number of products appearing in best buy tables and HSBC has topped the list, with Yorkshire Building Society coming second.

Nationwide Building Society, Newcastle Building Society and Halifax are also listed in the top five, although Halifax has slipped back a place from the tables covering the three months to the end of June.

Lloyds TSB made good progress during the third quarter; its home loans began to show consistently good value following the announcement of the Government’s rescue package for UK banks, earlier this month.

mform says it carries out weekly monitoring of mortgage best buy tables across all types of loan and takes into account fees in determining the best deals for consumers.

Using a point system for each appearance in a best buy table, mform found that during the third quarter of the year, HSBC scored 42; Yorkshire Building Society: 32; Nationwide: 17; Newcastle Building Society: 14; Halifax: 13.

Marketing and business development director at mform, Francis Ghiloni, concludes that HSBC’s financial strength and relative immunity from the financial crisis has enabled it to stay ahead of its rivals.

He also reminds homeowners that according to the research, the best deals are now available direct from lenders.

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