You are here: Home - Mortgages - Buy To Let - News -

The best and worst mortgage lenders revealed

0
Written by: Antonia Di Lorenzo
11/09/2018
Principality Building Society has been ranked the best mortgage lender, with First Direct and Nationwide coming in joint second place, a satisfaction survey has found.

Principality achieved a customer score of 80%, with nine in ten customers saying they did not experience any problems with their mortgage, according to the latest survey by campaign group Which?.

The building society gains five stars for flexibility of payments on its mortgage, and nearly all customers said they were satisfied with their mortgage.

First Direct and Nationwide Building Society both scored 77% to come in joint second. Virgin Money came fourth with a score of 76%, Coventry Building Society claimed fifth place with 75% and Skipton Building Society received a score of 73% to come sixth.

Worst performers

Kensington was bottom with a customer satisfaction score of just 56%. According to the survey, the lender received two stars on value for money and two-thirds of customers have paid the standard variable rate on their mortgage.

However, Which? highlighted that Kensington specialised in lending to people with bad credit ratings or complex circumstances, so its rates are higher due to the increased level of risk it takes on.

Accord Mortgages received the second-worst customer score of 61%, with one in seven of its customers being dissatisfied with their mortgage.

The survey of more than 3,500 mortgage customers looked at customer service, the mortgage application process and value for money.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
The challenger paying 4X more on cash ISA holdings

Savers looking to gain the maximum returns on their instant cash ISA shouldn’t dismiss challenger banks as they offer up...

Close