/24-7PressRelease/ - LONDON, UK, November 04, 2007 - High street lenders spend millions in advertising to attract the customers but when it comes to cheap loan deals, 70 per cent of the top offers come from the smaller building societies. The performance of big-name lenders in the market was shocking, says the comparison website Moneyfacts that carried out the study.
The study found that out of 250 best mortgage deals, only 27 were from the nation's ten biggest banks. Small building societies with limited resources often provide a better loan deal to attract business as they cannot afford to spend as much on advertising.
Julia Harris, mortgage expert said: "Making one of your biggest financial decisions should not be based upon brand or perceived convenience. It should be about finding the most competitive and suitable deal."
One should not accept the offer just because it is coming form a reputed bank. A comparative analysis is must to get good secured loan offer.
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