A&L topples HSBC as most competitive lender
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Alliance & Leicester has emerged as the most competitive lender of Q4 2009, based on research by Evaluate Technologies.
Alliance & Leicester ranked as the most consistently competitive lender during the last quarter, seizing the crown from HSBC, the most competitive lender of Q3.
Rankings were based on a points system, where lenders where awarded a point for each time their products appeared in Evaluate’s top 10 mortgage deals between October and December.
A&L netted a score of 23, ahead of First Direct with a score of 19 and Woolwich with a score of 15.
HSBC slipped down to fourth place, from being ranked number one in Q3, with a score of 14 points.
The Post Office, Abbey, Principality, Mansfield and Britannia also made the list of most competitive lenders for Q4, while Northern Rock sneaked into tenth place.
Lloyds Banking Group did not feature on the list.
Julie Speed, national accounts director at Evaluate Technologies, says: “The changes taking place at the top of the best-buy tables indicate a good degree of competition in the mortgage market which is going to be key to supporting the property market in 2010.
“Brokers will have been particularly pleased to see A&L’s emergence, showing that lenders value the intermediary market.”
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Readers' comments (2)
Ketan Yadav - Avenue & Co Private Finance | 6 Jan 2010 3:01 pm
It would be interesting to see on what basis Evaluate have come to this conclusion.
Its welcome news but consumers need to see this in pounds and pence and what the assumptions have been to get to this conclusion, eg APR, loan size, fees, Total cost, ERP etc. Moneyfacts seem to have the most comprehensive list of deals, but again, like all web comparison sites, broker exclusives do not appear, and that's accounts for over 30% of products according to recent research by Evaluate.
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Anonymous | 8 Jan 2010 1:49 am
Are A&L still charging silly exit fees? Are they still charging high cash machine fees in remote places for our OAP's.
Competitive lender my foot!
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