Mortgage lenders failing to provide best deals

The best deals on mortgages are coming from building societies, according to new research.

The survey by Moneyfacts.co.uk showed that those seeking all kinds of mortgage, including fixed-rate, discounted or variable, may be better off looking at the deals offered by building societies.

And it was revealed that the top ten lenders offer only 11 per cent of the best mortgage deals on the market.

Julia Harris, mortgage expert at Moneyfacts.co.uk, said: "it is shocking to see that so few of the top priced mortgage deals are offered by the largest mortgage lenders.

"Despite the vast amount of information in the public domain and the still prominent role of the financial advisor, brand and high street values still seem to be winning customers.

"While some deals offered by these providers may offer the best solution to an individual customer's needs, the findings show that for the majority of borrowers, the deals from building societies and smaller lenders are winning hands down."