Building societies join the table of popular mortgage lenders

For the first time in 18 months there are four building societies in the monthly table of most popular mortgage lenders.

The table, compiled by Moneyextra.com, puts the Nationwide Building Society at number one and also includes the Coventry, Portman and Skipton building societies in the top ten.

According to the financial advice website, the widely expected interest rise next month could prove beneficial for mutual lenders.

“It’s early days yet but it’s possible that, against the backdrop of rising base rates, building societies may once again be able to play their strengths – focusing on delivering quality deals to members without having to worry about generating returns for shareholders,” said Robin Amlot of Moneyextra.com.

The monetary policy committee voted this month to maintain the interest rate at 4.75 per cent following a rise of 0.25 per cent in August.

© Adfero Ltd

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