3
Jan
'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.
