HSBC comes out on top despite cutting out brokers

HSBC has emerged as the most consistently competitive mortgage lender during 2008, reveals analysis by Mform.co.uk.

The lender has come out on top despite refusing to offer deals through brokers.

Mform.co.uk monitored the number of times lenders appeared in its top 10 best buy tables and awarded points for each appearance during 2008. Lenders with the most points at the end of the year signified the lenders offering consistently good value.

HSBC came as the winner with a total of 89 appearances in the year, followed by the Yorkshire with 70 appearances.

Lloyds TSB’s lending arm Cheltenham & Gloucester and Halifax also made the online mortgage company’s top 10.

Francis Ghiloni, marketing and business development director at Mform.co.uk, says: “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 it will be interesting to see how this is reflected in its market share.”

He adds: “The rise of Lloyds TSB and C&G in the rankings demonstrates that just possibly the banking bail-out and government pressure is having a positive effect.”

The top 10 for the year is outlined below with scores for the number of appearances by a lender in the mform.co.uk tables.

http://www.mortgagestrategy.co.uk/cgi-bin/item.cgi

Email to a friend email

Print version print

Comments

Business Financial Services

HSBC comes out on top despite cutting out brokers