Mutuals strong on best-buys

Building societies still offer 40% of all best-buy mortgage deals according to analysis from

The analysis looked at the 10 best deals across nine product categories and at varying loan to values.

While the research found that banks still dominate best-buy tables on tracker products, when it comes to fixed rate deals building societies offer five out of 10 of the best fixed deals at 60% loan-to-value (LTV) and seven out of 10 of the best deals at 75%.

Yorkshire Building Society’s products account for 14% of all best-buy deals on the market and the society currently offers the two most competitive products to borrowers looking to take out a two-year fix with a 75% LTV. However, Chelsea Building Society, which is now merging with Yorkshire, appears just once in the best-buy tables.

When it comes to higher LTV products, Saffron and Vernon Building Societies both have products available at 90 LTV.

Francis Ghiloni, commercial director at said: “Building societies have faced a rocky road of late. The sector has consolidated as those with insufficient capital have been consumed by larger rivals. Last week’s merger between Yorkshire and Chelsea may not be the last with others reported to be struggling.