Top 6 UK Mortgage Lenders

 

 

 

 

The Top 6 UK mortgage lenders control over 60% of the market. They include:

  1. The Halifax
  2. Nationwide
  3. Northern Rock
  4. Woolwich
  5. Bradford & Bingley
  6. Abbey National

For more details see Top 10 Mortgage Lenders

 

However, it is always worth remembering that the big 6 do not necessarily give you the best value for money. In a recent report, it was found that of the best 250 value deals only 11% were deals from the big 6 mortgage lenders. see article - getting best mortgage deal In a way this is not unexpected, the big 6 benefit from strong brand loyalty. For such a big financial decision of getting a mortgage, people are concerned that they get a 'reliable' and trustworth mortgage company.

However, in the case of mortgages there is nothing to fear from choosing a smaller company.

If your mortgage company goes bankrupt, you will not lose out. You will just have to pay to another company. They are not allowed to change the terms of your initial mortgage deal.
Small mortgage companies don't go bankrupt. It just doesn't happen.
The only Mortgage lender to get into real difficulties, is of course one of the big 6 mortgage lenders - Northern Rock. The difficulties of Northern Rock is not a reason to avoid getting a mortgage with them.
The main point is that you shouldn't worry about getting a mortgage deal with a small mortgage company, who specialise in offering good deals.

Note the top 6 mortgage lenders does sometimes change, it is highly Northern Rock will soon be taking over by another company.