Mortgage deal

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Having had a look at MSE's mortgage best buy page (https://www.moneysavingexpert.com/mortgages/best-buys) it seems that there the first and second deals are better than the rest (H&R and HSBC. I say second because the SVR rate is better after first 24 months.) So my question is... why isn't everyone taking out mortgages through these deals? Obviously ignoring the fact that people don't know about them.

I have a skype call arranged with Halifax about a mortgage, but based on the information on that page, it seems HSBC would be best to try....

Spangled

HSBC (and First Direct) are notoriously picky lenders - you'll need a clean credit history and a decent income-to-loan ratio. They can afford to be picky because their rates are (generally) very good. Also - with HSBC you can usually only go to them direct - they only deal with a small pool of mortgage brokers (I think). Not everyone is confident enough dealing direct with the lender.

Also - the first mortgages listed in the Best Buy list may not be right for everyone. Someone might need a low- or no-fee option. Or an offset facility. Or no early repayment charge tie-in. Or a more "lenient" lender. Or a long fix for peace of mind. Or a lifetime tracker to avoid the expense and hassle of remortgaging very two years. Lots of different variables when choosing a mortgage - an independent whole-of-market mortgage broker can really help you work out what would be best in your circumstances.

Good luck!

Malmo

In a nutshell, because the customer doesn't pick the lender, the lender picks the customer based on the risk profile and type of customer they want in their loan book. Mortgages are not like picking out an insurance policy or utility supplier.