Best mortgage lenders UK: Find the best bank for a mortgage

Discover the best bank for a mortgage in the UK using real customer reviews from our customer satisfaction survey.

Updated . What changed?

Fact checked
Best lenders by customer satisfaction Best lenders
Summary of best rates Compare rates
Data indicated here is updated regularly
Name Product Initial rate Revert rate (SVR) Maximum LTV Overall cost for comparison Apply link
Lloyds Bank 28/02/2023 Fixed
Lloyds Bank
1.09% fixed until 28/02/2023
3.59% variable
60%
3.5% APRC
Compare now
View details
Santander 02/03/2023 Fixed
Santander
1.14% fixed until 02/03/2023
3.35% variable
60%
2.8% APRC
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View details
Coventry BS 31/12/2022 Fixed
Coventry BS
1.15% fixed until 31/12/2022
3.99% variable
50%
3.9% APRC
Compare now
View details
Lloyds Bank 28/02/2023 Fixed
Lloyds Bank
1.17% fixed until 28/02/2023
3.59% variable
60%
3.4% APRC
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Santander 02/03/2023 Fixed
Santander
1.18% fixed until 02/03/2023
3.35% variable
60%
3% APRC
Compare now
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Nationwide BS 2 years Fixed
Nationwide BS
1.19% fixed for 2 years
3.59% variable
60%
3.2% APRC
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Halifax 28/02/2023 Fixed
Halifax
1.2% fixed until 28/02/2023
3.59% variable
60%
3.5% APRC
Compare now
View details
Halifax 28/02/2023 Fixed
Halifax
1.2% fixed until 28/02/2023
3.59% variable
60%
3.5% APRC
Compare now
View details
Halifax 28/02/2023 Fixed
Halifax
1.2% fixed until 28/02/2023
3.59% variable
60%
3.5% APRC
Compare now
View details
Lloyds Bank 28/02/2023 Fixed
Lloyds Bank
1.25% fixed until 28/02/2023
3.59% variable
75%
3.5% APRC
Compare now
View details
Santander 02/03/2023 Fixed
Santander
1.25% fixed until 02/03/2023
3.35% variable
60%
2.9% APRC
Compare now
View details
Halifax 28/02/2023 Fixed
Halifax
1.28% fixed until 28/02/2023
3.59% variable
60%
3.5% APRC
Compare now
View details
Barclays Mortgage 31/01/2023 Fixed
Barclays Mortgages
1.28% fixed until 31/01/2023
3.59% variable
60%
3.3% APRC
Compare now
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Barclays Mortgage 31/01/2023 Fixed
Barclays Mortgages
1.28% fixed until 31/01/2023
3.59% variable
60%
3.3% APRC
Compare now
View details
Barclays Mortgage 31/01/2023 Fixed
Barclays Mortgages
1.28% fixed until 31/01/2023
3.59% variable
60%
3.3% APRC
Compare now
View details
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Compare up to 4 providers

Overall representative example
If you borrow £170,000 over a 25-year term at 1.75% p.a. (fixed) for 62 months reverting to 4.74% p.a. (variable) for the remaining term, you would make 62 monthly payments of £700.04 and 238 monthly payments of £912.95. The total payable would be £261,424.58, which includes interest of £90,685 and a product fee of £495. The overall cost for comparison is 3.6% APRC representative.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

We know that deciding to take out a mortgage is a big financial commitment – something that you shouldn’t rush into without exploring your available options. That’s why we have designed this page to help you cut through the industry jargon to better understand how mortgages work and how you should compare the different lenders and providers that are out there.

Best mortgage lenders in the UK for customer satisfaction

We asked mortgage holders to rate their satisfaction with the service they had received from their lender, and also whether they would recommend their mortgage provider to a friend. We have shown both results for the brands listed in the table below. Our independent survey of 750 mortgage customers was carried out in December 2019.

Overall satisfaction Customers who’d recommend Issuer Review
★★★★★ 93% L&C logo L&C is the country’s largest fee-free mortgage broker. With access to over 90 lenders, it is able to advise on a vast choice of mortgages depending on a borrower’s personal circumstances, and has racked up an impressive 93% ‘would recommend’ score from the customers we surveyed. Visit broker
★★★★★ 84% Nationwide logo As the UK’s second largest mortgage provider, the building society offers a wide range of fixed rate and tracker products. Founded in 1846 as a mutual financial institution, Nationwide is run for the benefit of its members, and consistently ranks highly for customer service. Compare with broker
★★★★★ 80% Halifax logo Now part of Lloyds Banking Group, Halifax offers one of the largest number of mortgages from a single lender, particularly in the fixed-rate space. Not always the top ranked for competitive rates, the bank does poll well for customer service. Compare with broker
★★★★★ 80% Lloyds Bank logo As with its sister brand Halifax, Lloyds lists an extensive range of mortgages, particularly fixed-term deals lasting two, three, five or 10 years. It lends on loan-to-value (LTV) ratios of up to 95%, and is recommended by four out of five customers in our survey. Compare with broker
★★★★★ 79% HSBC logo The UK’s biggest bank is not one of the UK’s biggest mortgage lenders, with fewer specialist products in its range. But HSBC does offer fixed and variable mortgages at rates that are consistently among the most competitive. Compare with broker
★★★★★ 79% HSBC UK logo NatWest is part of the Royal Bank of Scotland Group and has a wide range of mortgages available, including offset products. The bank will consider applications from all would-be borrowers on a case-by-case basis and its online features are often praised by customers. Compare with broker
★★★★★ 79% Santander logo Santander is another provider offering 95% mortgages to first-time homebuyers, and often ranks highly in best-rates tables. The bank’s customer service performance also generally polls well. Compare with broker
★★★★★ 73% Virgin money logo Virgin Money first began operating as a bank in 2010, developing its mortgage and saving products before its current account. Predominantly online-based, in 2019 the lender was the first in the UK to launch a 15-year fixed term mortgage. Compare with broker
★★★★★ 63% Barclays logo The bank mainly offers fixed rate mortgages, along with some tracker products. While Barclays often has leading rates, only around two-thirds of customers we surveyed would recommend the lender from a customer service point of view. Compare with broker
★★★★★ 57% RBS logo The Royal Bank of Scotland (RBS) is part of the same banking group as NatWest. Although RBS has a decent range of different mortgage products available, including offset mortgages, it does have mixed customer service reviews. Compare with broker

The biggest mortgage lenders

For some time, the UK mortgage market has been dominated by six banks. These are Lloyds Banking Group, Nationwide, RBS, Santander, Barclays and HSBC. These six lenders are often known as the “big six”.

In 2018, these six lenders accounted for almost 70% of mortgage lending in the UK.

Who are the best mortgage lenders? A summary

While there is no universal measure of what makes a “best” lender, we believe these lenders stand out from the others.

Choosing the “best” lender is more about which one offers what you need and what’s important to you.

However, there are definitely qualities that mortgage-hunters typically look for in a lender – such as low-interest rates, low fees and generous terms. Many consumers also want lenders with a great track record in customer service.

    In spite of our recommendations, it’s important to do your own research to learn which lenders will work best with your situation.

    Many people will search for the best mortgage deal through price comparison websites. These websites will list the cheapest deals based on the criteria you select. However, some lenders don’t appear on these websites and some price comparison websites prioritise affiliate lenders, even if they’re not the best.

    Alternatively, you could use a mortgage broker. This individual has expert knowledge of mortgage providers’ lending criteria, which could be invaluable if you have a low income or have unique circumstances. They’ll search for the best deal on your behalf, including those that are only available through broker services, so you can feel confident about being recommended a deal that you’ll actually be approved for. You’ll pay a fee for their services though.

Largest lenders by market share

Mortgage lender Market share
Lloyds Banking Group 15.6%
Nationwide Building Society 14.4%
Royal Bank of Scotland 12.9%
Santander UK 10.4%
Barclays 8.4%
HSBC Bank 6.4%
Coventry Building Society 3.7%
Virgin Money 3.4%
Yorkshire Building Society 2.9%
TSB 2.7%
These figures are taken from UK Finance (formerly the Council of Mortgage Lenders) and are based on gross lending amounts.

Struggling to understand mortgage jargon?

We know that sometimes it seems as though the financial world operates in a different language altogether, making it hard to understand what you’re getting into when applying for a mortgage. So to help you out, we have created a mortgage A-Z to simplify the terms you’re most likely to come across in your application.

How to find the best mortgage lender?

  • Decide on a mortgage type. First, decide whether a fixed rate mortgage or variable rate mortgage is more suited to your plans and budget. This is also a good time to find out what your credit score is and know what loans are available to you. Learn more about credit scores and mortgages.
  • Compare different lenders for different mortgages. Compare what different banks and lenders are offering for your chosen loan type and deposit amount. It is also important to always get more than one quote when looking for a mortgage. This will ensure you get a good mix of options from different types of lenders.
  • Ask for a key facts illustration. A lender must give you a mortgage estimate by law. This will show you interest rates, repayment costs and closing costs for your potential mortgage. Some lenders also have a mortgage calculator feature on their website where you can receive a quick quote.
  • Repeat until you find a mortgage you want. It’s normal to ask for estimates from more than one lender until you find a mortgage you’re happy with.

Best mortgage rates 2020

Fixed-rate mortgages continue to be popular in the UK due to the reliability of knowing how much you need to pay each month. However, finding and keeping the best fixed mortgage rate can be problematic. Many deals often start with a low, fixed-rate but often switch into a higher variable rate after a set period of time. This means you can end up paying more than you expected if you end up on the variable rate.

We have created a number of tables, each of which shows a list of mortgage lenders and the rates they have for certain deals with different criteria.

Best fixed-rate mortgage rates for 2020

Provider name Rate APRC Initial Monthly Payment Total amount repayable
Marsden BS 1.89% 5.00% £837.04 £353,042.80
Newcastle BS 1.89% 5.00% £837.04 £355,196.60
Ulster Bank 1.99% 3.40% £846.74 £295,875.04
Leek United BS 2.04% 4.70% £851.61 £341,090.28
HSBC 2.09% 3.40% £856.50 £295,759.25
Overall representative example
If you borrow £170,000 over a 25-year term at 1.75% p.a. (fixed) for 62 months reverting to 4.74% p.a. (variable) for the remaining term, you would make 62 monthly payments of £700.04 and 238 monthly payments of £912.95. The total payable would be £261,424.58, which includes interest of £90,685 and a product fee of £495. The overall cost for comparison is 3.6% APRC representative.
Provider name Rate APRC Initial Monthly Payment Total amount repayable
Loughborough BS 2.39% 4.70% £886.19 £341,985.12
Scottish BS 2.54% 4.50% £901.27 £332,881.44
Principality BS 2.56% 3.90% £903.29 £315,305.14
Metro Bank 2.59% 3.50% £906.33 £298,017.76
Scottish BS 2.59% 4.50% £906.33 £333,243.12
Overall representative example
If you borrow £170,000 over a 25-year term at 1.75% p.a. (fixed) for 62 months reverting to 4.74% p.a. (variable) for the remaining term, you would make 62 monthly payments of £700.04 and 238 monthly payments of £912.95. The total payable would be £261,424.58, which includes interest of £90,685 and a product fee of £495. The overall cost for comparison is 3.6% APRC representative.
Provider name Rate APRC Initial Monthly Payment Total amount repayable
AIB 1.97% 3.20% £850.67 £293,154.00
AIB 2.12% 3.30% £865.75 £294,814.80
AIB 2.18% 3.30% £871.82 £295,479.00
Ulster Bank 2.24% 3.10% £871.27 £288,865.00
Platform 2.24% 3.60% £871.27 £304,240.60
Overall representative example
If you borrow £170,000 over a 25-year term at 1.75% p.a. (fixed) for 62 months reverting to 4.74% p.a. (variable) for the remaining term, you would make 62 monthly payments of £700.04 and 238 monthly payments of £912.95. The total payable would be £261,424.58, which includes interest of £90,685 and a product fee of £495. The overall cost for comparison is 3.6% APRC representative.
These rates were taken on the 25 November 2020 from Moneyfacts.

Which factors should I take into account when choosing the best rate?

The introductory rate is one of the most important factors to consider when comparing mortgages, but it doesn’t tell the whole story. Here are some other elements to take into account.

  • Term length. Fixed-rate mortgages with longer terms have higher rates, but you’ll be protected against potential rate rises for longer. It’s often recommended to apply for short-term mortgages and remortgage once the introductory term ends, but there’s no guarantee you’ll be in a financial position to be approved for a remortgage at that time, which is another reason why some people prefer the security of long-term mortgages.
  • Extra fees. Most mortgage products will have one-off fees attached to them. These should be considered as well as the interest rate. The best way to compare mortgages is to calculate the total amount you’ll spend during the introductory term. The main fee to look out for is an “arrangement fee”. This often adds up to several hundred pounds, even though some mortgage products don’t include this at all. Some lenders will give you the option to add any fees onto the mortgage, but this should be avoided whenever possible, as it will mean paying interest on them for the entirety of your mortgage term.
  • SVR (standard variable rate). This is the rate you’ll be switched onto after the introductory rate ends. It’s best to remortgage before you’re moved on to this significantly higher rate, but that’s not always possible, so it’s worth bearing this rate in mind.
  • Total repayable. This is the total amount you’ll owe over the length of your mortgage. This won’t be too important if you’re planning to remortgage after the introductory term ends, but it’s still a useful figure to help you compare products. The easiest way to reduce your total repayable is to cut the length of your mortgage. Your monthly repayments will be higher, but the amount of interest paid will drop significantly.
  • LTV (loan-to-value). This is the amount of money you’re borrowing from your lender, expressed as a percentage of your property value. With a higher deposit, you’ll be able to access mortgages with a lower LTV ratio. These mortgages have lower rates, plus you’ll pay less interest in total.

Frequently asked questions

Best mortgage lenders in the UK by customer satisfaction: A summary

Mortgage lender Customers who’d recommend Rank
L&C 93% 1
Nationwide 84% 2
Lloyds Bank 80% 3
HSBC 79% 4=
Natwest 79% 4-
Santander 79% 4=
Virgin Money 73% 5
Barclays 63% 6
Royal Bank of Scotland 57% 7

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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