3 Jan

'Building societies' mortgages are best value,' says expert

'Building societies' mortgages are best value,' says expert

Building societies offered borrowers the best value mortgages, according to new data.

Figures from mform.com showed that the top ten best value mortgages in 2007 were all those offered by building societies.

Conversely, banks' mortgage deals failed to make an appearance in the top ten at all, with Giraffe the highest placed at 11, while the UK's largest lender Halifax stalled at 36th place.

Francis Ghiloni, mform.co.uk marketing and business development director, said: "It is striking that none of the biggest lenders figure in the top ten for consistently competitive products which means that eight out of ten borrowers could benefit from our service."

He added: "Borrowers need to understand that simply because a lender was excellent when they last bought a mortgage, it doesn't follow that they will still be the best. It changes every day, which is why borrowers should search the market as widely as possible when sourcing a mortgage."

Furness Building Society topped the poll followed by Skipton and Britannia.


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