Which? reveals best mortgage lenders

A Which? customer satisfaction survey has revealed the best mortgage lenders, with building societies coming front of the pack.

Principality came top of the survey for providing the best mortgages, with First Direct and Nationwide coming in joint second. As a result, they are now all Which? Recommended Providers.

The survey of more than 3500 mortgage customers looked at customer service, the mortgage application process and value for money to determine which mortgage lenders are going above and beyond to deliver a stellar experience for their clients.

Principality achieved an impressive customer score of 80%, with nine in 10 customers saying they did not experience any problems with their mortgage. The building society gains five stars for flexibility of payments on its mortgage, and nearly all (97%) customers told us they were satisfied with their mortgage.

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

Kensington came at the bottom of this year’s table, with a customer score of just 56%. The lender received two stars on value for money and we found that two-thirds of customers we heard from were paying the standard variable rate on their mortgage. However, it’s worth bearing in mind that Kensington specialises 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, the intermediary-only arm of the YBS group, gave a disappointing performance, with second-worst customer score of 61%. We found that one in seven of the customers we heard from were dissatisfied with their mortgage. 

Gareth Shaw, Which? Money Expert, said:

“Choosing the right mortgage for you will probably be one of the biggest financial decisions you ever make.

“It’s essential that you pick the right provider for your specific needs and these Which? Recommended Providers are all highly rated by their customers for quality of service and value for money.”


How to find the best mortgage lender for you

  • The best mortgage provider for you will depend on your property as well as your personal circumstances such as credit history, employment status and how much you want to borrow.

  • Look for a mortgage adviser that can offer independent and impartial advice across the whole of the market to find the mortgage that best fits your needs and circumstances. 

Full table of results:

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Notes to editors: 

  • Which? surveyed 3572 mortgage customers in June 2018 to find out how customers rated their lender on factors such as customer service, how they found the mortgage application process and value for money.

  • To become a Which? Recommended Provider, a mortgage lender must have
    achieved a top customer score in a Which? customer satisfaction survey, be
    covered by the Financial Services Compensation Scheme and meet requirements set by the Financial Conduct Authority, and consistently offer competitive mortgage deals.

  • Our experts analysed thousands of mortgages over a four-week period in June and July 2018, before compiling 108 tables of the top-10 cheapest deals based on a variety of borrowing scenarios, to count how many times each lender featured in a table. Only those who featured at least eight times in home-moving or switching scenarios qualified for Which? Recommended Provider status.

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