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Yorkshire BS at heels of HSBC in lender poll
HSBC was the most consistently competitive mortgage lender during the third quarter of the year, new figures showed.
The global giant had more products appearing in best buy tables than any other lender during the period, with only Yorkshire Building Society coming close, according to mortgage company mform.co.uk
Nationwide, Newcastle Building Society and Britain's biggest mortgage lender Halifax made up the rest of the top five.
The group also found that Lloyds TSB, which is in the process of taking over Halifax Bank of Scotland, had become more consistently competitive during October, following the Government's bail-out of the banking sector.
Lloyds TSB, which also lends under the Cheltenham & Gloucester brand, is currently the ninth most competitive lender, after failing to make it into the top 10 during the previous three months.
By contrast, Halifax, which started October in second place, has since slipped back.
Mform monitors the best buy tables for all types of mortgage on a weekly basis, looking at the true cost of a loan including all fees.
Each time a lender appeared in the top 10 on one of the tables during the three months to the end of September they were awarded a point.
HSBC appeared in the best buy tables 42 times during the period, with Yorkshire Building Society having 32 appearances.
But third place Nationwide only featured 17 times, with Newcastle Building Society and Halifax listed on 14 and 13 occasions, respectively.
In 2007, before the full impact of the credit crunch was felt, the five most competitive lenders were all building societies, with Furness leading the way, followed by Skipton, Britannia, Nottingham and Darlington Building Societies.
Marketing and business development director at mform.co.uk Francis Ghiloni said: "HSBC's financial strength and apparent relative immunity from the ongoing financial crisis has enabled it to stay ahead of rivals as the most consistently competitive.
"It is striking that it has achieved this by going direct to the consumer rather than using brokers and borrowers should take notice that the best deals are now available direct.
"It will be interesting to see how this is reflected in the market share of HSBC at the end of the year."
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