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Cheap mortgages not always from most obvious source

Date: Wed, 30 Nov 2005

Consumers are being reminded that the best cheap mortgage offers don't always come from the most well-known lenders.

Potential homebuyers tend to concentrate their research on the leading high-street lenders but Moneyfacts.co.uk is keen to stress that some smaller lenders offer more competitive products.

According to recent research conducted by the price comparison firm, 18 smaller lenders offered lower fees and rates that the big-brand lenders on a five-year fixed cheap mortgage product.

"Whilst consumers may assume that the larger and well known lenders will offer the best deals, be more cost effective and generally pass on the benefits of their corporate wealth to their customers, this is certainly not always the case," said Rachel McKay, mortgage analyst from price comparison service Moneyfacts.co.uk.

She added: "It is important that the customer realises that there is a huge choice when it comes to mortgage providers, and as the information above shows, biggest doesn’t always mean the best deal."


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