Can I ask who you have your mortgage with?

[excelledyourself]

Been using some online calculators to work out what I can borrow and what monthly payments are likely to be.

I haven't heard of a lot of the cheaper mortgage lenders coming up (Marsden, Platform, Coventry, etc) and just wondered if people stick with the big names, or if these are companies are just as good as any?

My current mortgage is with Halifax, who also happen to be my bank.

Thanks.

Ours is HSBC because they offered the best deal at the time. However we're still on a lifetime tracker from over a decade ago and you can't get such a good deal these days.

Marsden and Coventry are building societies, who started out for the purpose of lending local people money to buy a home (the clue being in the name).

Platform I think is a brand of a more well known lender, who specialise non mainstream lending.

But there's no need to stick with the big names and depending on your circumstances, you might get a better product from a smaller lender.

It doesn’t really who the lender is in most cases as it’s more about what they offer such as interest rates etc. It could be small company or a big company.

I've used Coventry for my mortgage in the past and they were very good. The one downside was at the time (don't know if it's different now) you couldn't view your mortgage balance online so haf to phone or wait for annual statement. They were excellent on the phone though, really helpful.

Platform. Owned by the Co Op have been around for over 21 years. Coventry Building Society, same (this is as long as I've been writing mortgages). I'll be honest if you're looking to remortgage or move I'd get a broker involved because they can save you thousands in interest.

Sorry I meant Coventry have been around over 21 years not that they are also owned by the Co Op 🤣

Nationwide. We're almost 4 years into a 10 year fixed rate and they had the best deal for us, at the time.

Halifax at the moment, we’ve previously used Platform (Co op) and Santander. Never had any problems with any of them, went through a broker to sort it all out though.

Nationwide because they've always had the best deal for us.

But don't just talk to a broker, do your own research. I went to a broker before we took out the HSBC mortgage. They ignored what I asked for and recommended totally different products.

I wanted a lifetime tracker that tracked the BOE base rate. They recommended short term products that offered a discount from the lender's SVR. That crucial difference has saved us tens of thousands of pounds in interest in the last 12 years or so, we haven't needed to remortgage since and are currently paying less than 0.5% interest a year.

I am with the Coventry, no issues. As above there is no online access but I don't check my mortgage balance that often so it's no real issue.

We’re with West Brom BS as they had the best rate for a 5 year fixed and reasonable fees. Building societies have been lending for over a hundred years.

We remortgaged with Halifax, and as we did that we didn’t have any fees to pay on the 5 year fix we took out. That saving alone was almost equal to what we would have saved by going elsewhere but then paying application fees, legal fees valuation fees, etc.. with a new lender. And then taking in to accoun the hassle factor of moving, decided to stay with Halifax

Forgot to say, that as the rate was below1.5%, we switched to IO from repayment. The saving in repayments we are investing, as in the long term, it should make considerably more than the interest rate on the mortgage. We are looking at a 10 year timescale, at least, so happy to ride out any ups and downs in investment values

Thank you! This is really helpful. I was thinking perhaps the lesser known companies (to me) were too good to be true.

Has anyone used Progressive Building Society? They seem to offer lowest rates on 90% mortgages. Although I'll only be doing that if buying a doer upper. Hoping to put down 20% otherwise.

Ours was with HSBC because it was the best rate available at the time, but we paid it off early so don't have a mortgage now.

I note that a few people have mentioned the Coventry building society. I have no experience with their mortgages but I have had some other dealings with them recently, and I was bowled over by the quality of their customer service. I dealt with 3 different people and they all went over and above to help. I'd definitely consider going to them if I needed a mortgage in the future.

Ours was with Metrobank, paid off now but I wouldn't hesitate to go with them again if we needed to. Excellent customer service.

I'm with Coventry. They would lend to us when others wouldn't (missed credit card payment i think, but I remember talking direct to the underwriter, where others just said no). Also have good rates and good service.

Halifax but we will be moving to whoever is cheapest and will accept our slightly less than perfect credit history!

@newyeardelurker sounds like they could be an option for us!

We have ours with Natwest. Rate is 1.39% (just remortgaged), and our LTV is around 50%. We dont have any complaints about them.

First Direct. They weren't the cheapest I found, but I bank with them and like that they allow you to overpay as much as you want without incurring costs.

Nationwide. Best rate we could get at 1.2%

We also had an HSBC lifetime tracker. Paid it off recently but only could do that because it allows unlimited overpayments and no early repayment fee.

We want to move this year and I was tempted not to pay it off in case we wanted to port it, as you don't get those mortgages anymore.

MetroBank. Excellent customer services. Remortgaged with them twice and also after moving.

Nationwide as they had the best offer at the time.

Previously have dealt with Landmark who were horrendous so do not recommend!