22 Sep

Homebuyers advised to 'shop around for loans'

Homebuyers advised to 'shop around for loans'

Homebuyers looking to purchase a house for sale in the UK have been told to secure their finance by searching around for the best mortgage deal.

Head of mortgages at HSBC Martijn van der Heijden suggested that potential homeowners could get better offers if they spent time comparing prices with a variety of loan providers.

He said: "Shopping around is essential when looking for a new mortgage and that means doing more than simply seeing a mortgage broker."

Mr van der Heijden added that four in ten customers are choosing to deal with their mortgage provider directly as this is a good way to receive their lowest rates.

His comments come after research by the Council of Mortgage Lenders (CML) revealed that in 2009 HSBC was the largest lender of mortgages sold directly to homebuyers.

The CML also recently reported that 82 per cent of lending activity during this period was provided by the five biggest mortgage companies. ADNFCR-1222-ID-800077129-ADNFCR

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