HSBC mortgages are dominating the best buy tables as the most consistently competitive lender during the third quarter of 2008, according to research from mform.co.uk. Yorkshire Building Society mortgages
closely follow HSBC mortgages
in competition for the best deals, with Nationwide Building Society mortgages
, Newcastle Building Society mortgages
, and Halifax mortgages
making up the top five deals.
Since its Government bail-out, Cheltenham and Gloucester mortgages
– the home loan arm of Lloyds TSB – have made it onto the top 10 table for the first time this year.
mform.co.uk monitors the best buy mortgage
products from across the market, based on the true cost of a mortgage including all fees. A lender earned a point each time they appeared in the top 10 of the table in the three months to September 30.
The figures from mform.co.uk show that the top five lenders has changed since 2007, before the full effects of the credit crunch were realised, when the best deals were offered by Furness, Skipton, Britannia, Nottingham, and Darlington Building Societies.
"HSBC’s financial strength and apparent relative immunity from the ongoing financial crisis has enabled it to stay ahead of rivals as the most consistently competitive." explained Francis Ghiloni, marketing and business development director at mform.co.uk.
"It is striking that it has achieved this by going direct to the consumer rather than using brokers and borrowers should take notice that the best deals are now available direct. It will be interesting to see how this is reflected in the market share of HSBC at the end of the year."
Francis Ghiloni added that "It is still possible to source good deals but borrowers need to understand that the rapid changes in the market make it essential to regularly monitor competitiveness."