HSBC topped the league for the second year running, though the increases in base rates led to borrowers paying an extra £577 from the previous year.
Commenting on the results Victoria Roe, media relations manager at HSBC, said that the lender’s promise to only ever charge one percentage point above base rate for all its customers who were on a SVR has led to it retaining its position.
On the issue of whether HSBC intended to use intermediaries in the future she said: “There are no concrete plans to use intermediaries at present but we have this option under constant review, certainly all of our competitors do.”
HBOS intermediary-only lender The Mortgage Business (TMB), came 35th in the league table, having charged customer’s paying its SVR £1,173.50 more interest per year than HSCB.
Samantha Owens, mortgage research editor at Moneyfacts, commented: “Lenders such as Egg, Nationwide and Intelligent Finance offer a smaller range of products than some of the lenders that feature lower in the chart.
“These lenders have short-term market-leading products but do not always offer the best deal for those customers paying the SVR.”
Top ten of Moneyfacts top 35 mortgage lender
Total annual interest repayment on a £100,000 SVR mortgage
