Majority of mortgage applications 'going to three lenders'

Switch for the chance to WIN an amazing Amazon Echo Dot

Three of Amazon's most popular personal assistants to be won! (T&Cs apply)http://switch.ukpower.co.uk/black-friday-winter-bills-promo

in partnership with Banner uswitch

Looking to switch your business energy supplier? Click here

* Between 1 Jan 2018 and 30 Jun 2018, at least 10% of people who switched energy supplier for both gas & electricity with uSwitch saved £482 or more.

The majority of mortgage applications made in the UK in the past month have been made to three lenders, according to new research.

Mform's research found that six out of ten applications have gone to West Bromwich Building Society, the Principality and the Co-operative Bank due to the firms' competitive deals.

The study also found that lenders including HSBC have also experienced an increase in interest, along with the likes of Halifax.

Francis Ghiloni, the website's marketing and business development director, stated that the past has been "the most manic ever" in the UK's mortgage market.

He added that the sector has shifted "dramatically" with lenders now "effectively bypassing brokers and going direct".

Mr Ghiloni has previously stated that borrowers should calculate the "true cost" of their home loans before committing to a deal, after research found that fees on the best fixed-rate deals have doubled in the past year.

According to the website, fees on the most competitive three-year fixed-rate deals have risen from £578 to £1,132.

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.


Found this page interesting?

Help spread the word and share this page with your friends and family on your social networks.

Cookies help us deliver our services. By using our services, you agree to our use of cookies. Learn more