UK Mortgage Lenders & Mortgage Products
Abbey
Abbey are a popular mortgage lender offer an extensive range of variable mortgages, tracker mortgages, fixed rate mortgages and buy to let mortgages and along with the Alliance and Leicester are now part of the Spanish banking group Santander. Abbey also make it easier for UK nationals to access purchasing properties in Spain and have a section of their site dedicated to buying a property in Spain and Spanish mortgages.
Abbey also have a comprehensive mortgage glossary covering a range of information, charges and important details that new or existing borrowers need to access prior to deciding on their mortgage lender. Abbey were created in 1944 and adopted a building society model to their financial structure and became a competitive mortgage lender. In 1989 they were listed on the stock exchanging thus becoming a Public Limited Company, before being taken over in 2003 by the Spanish Santander group.
Summary Of The Mortgage Lender Abbey
Alliance & Leicester
The Alliance & Leicester are one of the longest standing residential mortgage lenders and provide fixed rate mortgages, tracker mortgages, discounted mortgages and buy to let mortgages. Like Abbey they are now owned by the Spanish Santander group, which appears to have given them more muscle in the mortgage lender markets. Established in 1852 Alliance & Leicester have been a safe and dependable mortgage lender through both economic boom and bust periods and frequently provide competitive mortgage rates to rival most of the more popular mortgage lenders like HSBC and Halifax. Alliance & Leicester offer three alternative ways to pay your mortgage either through a repayment mortgage, interest only mortgage or Part & Part.
Summary Of The Mortgage Lender Alliance & Leicester
Barclays
Barclays has been prominent as a key mortgage lender in the United Kingdom for over 280 years and provide mortgage lending through the Woolwich, which is owned fully by the Barclays group. Barclays are undoubtedly one of the largest financial service organisations in the world, operating in approximately 58 countries. They also have a substantial slice of the residential mortgage market. Unlike Halifax, Lloyds, Northern Rock and Bradford and Bingley who were heavily affected by the credit crunch, Barclays seem to have been well capitalised, to the extent that they also purchased part of the US Lehman Brother business, after it’s dramatic collapse.
Barclays are well known on the high street as a popular mortgage lender and offer fixed rate mortgages, variable rate mortgages, tracker mortgages, buy to let mortgages, discount mortgages and offset mortgage products.
The Barclays online site also has a superb help section packed full of useful guides which include; Our mortgages explained, Offset Mortgage Calculator, Mortgage calculator, Budget planner, Quick quote, Mortgage glossary, First-time buyer guide, Buy to Let guide, Buying with others, Shared Appreciation mortgages, What to do if you can't pay your mortgage & a Payment protection guide.
Summary Of The Mortgage Lender Barclays
Barnsley Building Society
Barnsley Building Society are a regional mortgage lender who merged with the Yorkshire Building Society in December 2008. The Barnsley Building society came into existence in 1874 although it had been trading since 1853. It has a proud mortgage lending pedigree and was one of the few financial institutions to come into existence primarily as a mortgage lender, rather than purely a bank. It also has a strong charitable ethos providing money to local charities and good causes from some of the profits that it generates from it’s mortgage lending and banking business. The Barnsley Building Society primarily provide fixed rate residential mortgage products of 2, 3 and 5 years in duration. They do not offer buy to let or other variable mortgage products. Whilst they offer limited information in the way of a frequently asked questions section or mortgage guides, they do publish an excellent 11 step mortgage process so that customers can get an overview of the mortgage process and the timescales involved when they apply.
Summary Of The Mortgage Lender Barnsley Building Society
Bath Building Society
Bath Building Society is a smaller mortgage lender which has a strong customer base in the Bath area and which is dedicated to keeping its customers happy through a rigorous investment strategy and currently manages around £200 million worth of assets. Established in 1904 and despite its size, the Bath Building Society is a mortgage lender that provides a good range of residential mortgage products including fixed and variable rate mortgages but also has an range of innovative mortgage products to suit a range of needs. These include Parental Assistance Mortgage Schemes (PAMS) specially designed for first time buyers, Buy for Uni mortgages which are parental assistant mortgages for students attending a UK university, buy to let mortgages and semi commercial mortgages for shops & workshops. In addition they offer a holiday let mortgage which has been created for those using their property to generate holiday let income. The majority of mortgage products available through Bath Building Society require a loan to value ratio of around 80% although some do go as high as 90%.
Summary Of The Mortgage Lender Bath Building Society
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