Mutuals strong on best-buys

Published on

Building societies still offer 40% of all best-buy mortgage deals according to analysis from realpricecomparison.com.

The analysis looked at the 10 best deals across nine product categories and at varying loan to values.

While the research found that banks still dominate best-buy tables on tracker products, when it comes to fixed rate deals building societies offer five out of 10 of the best fixed deals at 60% loan-to-value (LTV) and seven out of 10 of the best deals at 75%.

Yorkshire Building Society’s products account for 14% of all best-buy deals on the market and the society currently offers the two most competitive products to borrowers looking to take out a two-year fix with a 75% LTV. However, Chelsea Building Society, which is now merging with Yorkshire, appears just once in the best-buy tables.

When it comes to higher LTV products, Saffron and Vernon Building Societies both have products available at 90 LTV.

Francis Ghiloni, commercial director at realpricecomparison.com said: “Building societies have faced a rocky road of late. The sector has consolidated as those with insufficient capital have been consumed by larger rivals. Last week’s merger between Yorkshire and Chelsea may not be the last with others reported to be struggling.

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

BoE chief signals caution over interest rates

Bank of England governor Andrew Bailey has signalled that policymakers will take a cautious...

New Homes buys Clark Marshall to grow shared ownership reach

New Homes Mortgage Services LLP has acquired Clark Marshall Associates Ltd in a deal...

Shared living pressures extend well into adulthood as affordability bites

Britons are continuing to live in shared households far later in life as housing...

Landlords juggle 6.5 buy-to-let loans on average, research finds

Landlords with borrowing are managing an average of 6.5 individual buy-to-let loans across just...

Wales and North East top BTL yield table as returns edge higher

Gross buy-to-let rental yields rose modestly in the first quarter, with Wales and the...

Latest publication

Other news

BoE chief signals caution over interest rates

Bank of England governor Andrew Bailey has signalled that policymakers will take a cautious...

Second charge, the first option

A quiet shift is underway in the UK mortgage market, and it is being...

New Homes buys Clark Marshall to grow shared ownership reach

New Homes Mortgage Services LLP has acquired Clark Marshall Associates Ltd in a deal...