Big name mortgage lenders 'may not offer best deals'
www.moneynews.co.uk > Mortgages > Big name mortgage lenders 'may not offer best deals'
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Big name mortgage lenders 'may not offer best deals'
Wed 19th Mar 2008
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That represents a major shift from 2006, when big-name lenders took 75 per cent of the market share.
Denise Harvey, a mortgage analyst at the website, said that some of the larger lenders have "suffered the most" during the credit crunch, as they have had their access to the money markets restricted.
She noted that of the 68 products, the Royal Bank of Scotland group offered 29 of them through nine separate brands, including First Active, Natwest and Direct Line.
"These results clearly show that the larger institutions, especially banks, are not offering the most competitive products," she said.
Ms Harvey suggested that going to a "smaller, less well-known lender" could save borrowers money.
One household name, Woolwich, announced today that it is launching a new ten-year fixed-rate mortgage.
Related News : Mortgages |
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