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Bigger 'not always best' with mortgages
27 March 2008
Opting for bigger lenders is not necessarily best for homeowners when taking current economic conditions into account, it has been claimed.
Although most feel more comfortable taking out a loan with a major bank or lender, these to not always offer the best deals, one price comparison site has said.
Louise Cuming from moneysupermarket.com said that it is often the smaller building societies which offer the best deals – although this may be for a short time only.
"What you're seeing now from a best buy point of view is some of the smaller building societies having the best deals," she said.
"The only trouble with these small lenders is they have in effect very limited amount of funds to lend; they get out there with the best buy but that's gone fairly quickly," she added.
Recent research by Moneyfacts.co.uk found that of the top 250 mortgage deals in the market today, only 27 per cent are offered by the top ten mortgage lenders. 
