The top ten lenders account for over 80% of all outstanding mortgage balances1 but currently their products rarely feature amongst the Best Buys.
Ratecheck will reassure the borrower that they are getting the right deal, or save them some money by getting a better one. For example, a borrower could save £1,620 in interest by opting for the best 2-year fixed rate in the market rather than taking a 2-year fixed rate from a top-10 lender2.
The Ratecheck service doesn’t end there. All customers opting to use Ratecheck will have their deal double-checked again, when they receive their offer, to ensure that it is still the right choice. Of course, all L&C’s customers will be offered Ratecheck.
“The big lenders can offer good deals and service but it is often smaller lenders that trump them on rate. Ratecheck will not only help those about to sign up to a mortgage but also provides ongoing monitoring to ensure that our customers squeeze the very best value out of their mortgage”, commented L&C’s David Hollingworth.