Finding the best mortgage lender and deal for you is essential. This is because taking out a mortgage is one of the biggest financial decisions you’re ever likely to make. Here’s our roundup of a selection of UK mortgage providers along with the pros and cons of each.
There are a number of factors involved in finding the best mortgage. Most people start with finding the best mortgage rate. But the type of mortgages that lenders provide, the length of term, the loan to income ratio they lend and their reviews are equally important to finding the best mortgage for your situation.
Here at the HomeOwners Alliance we have compiled the best lenders around this month, based on how competitive their mortgage rates have been in recent months, as well as the size of the lender based on figures from UK Finance, and popularity with our readers.
| Mortgage Provider | HOA’s Rating | Max Loan Amount | Max Loan Term | Max Loan to Income Ratio | |
|---|---|---|---|---|---|
|
|
£5m | 40 years | 6x income |
Check if you Qualify
Learn More |
|
|
£5m+ | 40 years | 5.5x income |
Check if you Qualify
Learn More |
|
|
£3m+ | 25 years | 5.5x income |
Check if you Qualify
Learn More |
|
|
£7.5m+ | 40 years | 5.5x income |
Check if you Qualify
Learn More |
|
|
£2m | 40 years | 5x Income |
Check if you Qualify
Learn More |
|
|
£5m | 40 years | 5.5x income |
Check if you Qualify
Learn More |
|
|
£2m | 40 years | 5.5x income |
Check if you Qualify
Learn More |
|
|
£2m | 40 years | 5.5x income |
Check if you Qualify
Learn More |
|
|
£3m+ | 40 years | 5.5x income |
Check if you Qualify
Learn More |
|
|
£1.5m | 40 years | 5.5x income |
Check if you Qualify
Learn More |
Your home or property may be repossessed if you do not keep up with repayments on your mortgage.
A mortgage of £225,134 payable over 24 years, initially on a fixed rate until 30/09/26 at 4.88% and then on a variable rate of 6.99% for the remaining 22 years would require 26 payments of £1,328.29 followed by 262 payments of £1,593.54. The total amount payable would be £453.042 made up of the loan amount plus interest (£226,909) and fees (£999). The overall cost for comparison is 6.8% APRC representative.
You can read more about how our mortgage lender star ratings are judged in the methodology below. Our reviews are our opinion and do not constitute advice, recommendation or suitability for your financial circumstances. These mortgage providers are available via our partnership with mortgage brokers L&C.
Please note that the information in this guide is for information purposes only and does not constitute advice. Please refer to the particular terms and conditions of a provider before committing to any financial products.
Our list of the best mortgage lenders gives you an overview of some of the best lenders but which is right for you will depend on your circumstances, such as whether you are:
Each lender has different lending criteria. So it’s a good idea to speak to a fee free mortgage broker as they’ll be able to match you to the lender that’s most likely to accept your mortgage application.
The best mortgage lender for you will depend on your circumstances. Click on the sections below to find out more if you’re a first time buyer, remortgaging, you’ve got bad credit, you’re self-employed, you’re looking for a shared ownership mortgage or a Buy to Let mortgage:
Faced with a sea of mortgage options, we recommend using a fee free mortgage broker like our partners at L&C to search over 95 lenders to help find you the right deal. Find out how much you can borrow and start your mortgage search online or over the phone now with our partners at L&C
Here’s a selection of practical gadgets and tools to help keep things simple.
The largest mortgage lenders in 2023 according to the latest UK Finance data were:
Maybe. Choosing a bigger mortgage lender can have some advantages, such as they may have a larger number of branches and offer a wider range of mortgage products.
But bigger doesn’t necessarily mean better. Smaller lenders may offer a better fit for you, depending on your circumstances.
Loan-to-value (LTV) tells you what percentage of the home’s value is borrowed. LTV is important because higher LTVs lead to higher interest rates, because they are seen as riskier for lenders than someone who has put down a bigger chunk of their own money to buy the house.
| Property value | Deposit size as £ and % | LTV |
| £200,000 | £10,000 (5%) | 95% |
| £200,000 | £20,000 (10%) | 90% |
| £200,000 | £50,000 (25%) | 75% |
When you take out a mortgage you’ll need to decide how to repay it:
Interest-only mortgages were widely available before the 2008 financial crisis but lenders’ criteria is now stricter. Some lenders require a high minimum salary, they’ll need to see evidence you’ll be able to pay off the loan at the end of the term and they’ll often want a large deposit too.
However, an exception to the rule are Buy to Let mortgages, as the majority of these are interest-only deals.
Find out more in our guide What is an interest-only mortgage
The mortgage rate a lender offers will determine how much you pay each month for your mortgage. But there are other costs you’ll need to take into account when working out which is the best deal over all. But you don’t need to do the hard work yourself – you can get a fee free mortgage broker to crunch the numbers for you to find you the best mortgage deal.
| Type of fee | How much it costs |
|---|---|
| Arrangement fees | Mortgage lenders may charge high arrangement fees to access their best deals. These are typically up to £1,500. |
| Booking fee | Some lenders charge a non-refundable booking fee when you apply for a mortgage. These are typically up to £500. |
| Mortgage valuation fee | When you take out a mortgage, the lender will require that a mortgage valuation is carried out. Some lenders offer free mortgage valuations. But if not, you’ll need to pay. |
| Telegraphic transfer fee | This covers the CHAPS fee for transferring the money from the lender to your solicitor and costs up to £50. |
| Mortgage account fee | This covers your lender’s administration costs for your mortgage. You usually either have an account fee on a mortgage or an exit fee but rarely both. Both types are typically in the £100-£200 region. |
| Early repayment charge | This is a fee you may incur if you pay off your mortgage before the agreed end of your deal by remortgaging or paying off the balance, or by overpaying on your mortgage by more than your lender allows. Early repayment charges are typically up to 5% of your mortgage balance. Read our guide on Early repayment charges and how to avoid them for more information. Again, could be anything – particularly on long-term fixed rates where 7% or 10% is common in the early years of the scheme |
| Mortgage broker fees | A mortgage broker’s expert knowledge of the market can be invaluable in ensuring you make the right choice when making the big financial commitment that is a mortgage. Some brokers charge hefty fees but others like award-winning mortgage brokers L&C are fee free. |
Find more information in our guide on Mortgage fees and costs.
KEY INFORMATION
It’s worth checking whether there are any government schemes that can help you get a mortgage or buy a house. Here’s what’s on offer in 2025:
The main factors to consider when choosing a mortgage lender is the overall cost, including the mortgage rate and any mortgage fees, and how likely you are to be accepted by them. If you have any other requirements, such as wanting to have the ability to make unlimited overpayments, this will also be a factor. The easiest way to find the best mortgage lender for you is by speaking to a fee free mortgage broker as they’ll be able to give you advice tailored to your circumstances.
With a fixed rate mortgage, you’ll pay the same rate on your mortgage for the duration of your deal, typically 2, 3 or 5 years. This means your mortgage payments will stay the same for that period.
Whereas with a variable rate mortgage, the rate you pay can go up or down. With a tracker mortgage, the rate you pay tracks above the base rate and will go up and down if interest rates change. With a ‘discounted variable rate’, you’ll pay a rate that’s lower than the lender’s standard variable rate. So if the lender decides to increase or reduce its SVR, the amount you’ll pay will increase or decrease. Read more in our guide What type of mortgage should I get?
If you’re buying a property to let out to tenants and need a mortgage, you’ll get a Buy to Let mortgage. Most Buy To Let mortgages are interest-only. This means you’ll only pay the interest each month. And at the end of the term you’ll need to repay the original loan in full
The amount you can borrow on Buy To Let mortgages is based on how much rent the property can generate versus the cost of the mortgage. Typically, lenders will want your expected rental income to meet at least 125% of the monthly interest payments on the loan.
You’ll usually need at least a 20-25% deposit and Buy To Let mortgages may also require you to have a minimum salary, typically £20,000-£25,0000. Read more in our guide on Buy to Let mortgages.
Yes, there are a range of mortgage available for first time buyers with small deposits. 95% mortgages are widely available. This means you can buy a house with a 5% deposit. However, you can get a mortgage with 0% deposit with Skipton’s 100% mortgage if you have a track record of renting, or with guarantor mortgages if you have a family member who can put up property or money as security (although this involves risks to them). Find out more in our guide on First time buyer mortgages
Most lenders let you make overpayments without incurring an early repayment charge. This is typically 10% but it can be more generous. So check your paperwork to see what it is for your mortgage.
And be sure to check how that allowance is calculated and over what period. For example, some lenders will allow 10% of the original balance but most will be of the outstanding balance each year. Find out more in our guide on Early repayment charges and how to avoid them.
When you apply for a mortgage, the lender will check your credit report and the information contained in it will be a factor in whether your mortgage application is accepted or not. If you have a high credit score, you may be more likely to be accepted and get access to better rates too. Read more in our guide on Tips to improve your credit score for a mortgage.
Yes, mortgages are available for people with a history of bad credit. But it’s important to get expert mortgage advice first to make sure you apply to the right lender. If your credit issues are fairly minor and happened a few years ago, a mainstream lender may lend to you. But if your situation is more complex, you may need to go to a specialist bad credit mortgages lender.
Using the right specialist mortgage broker is crucial. If you speak to Chartwell Funding they will check whether a High Street lender is the best option for you first. Whereas some specialist mortgage brokers will only look at impaired credit lenders – this could mean you have to pay a higher mortgage rate. Get independent advice, a no obligation quote and an instant decision from Chartwell Funding. Call them on 01454 809 300 or submit an enquiry form to request a callback.
At HomeOwners Alliance, we base our reviews on a number of factors that allow us to judge lenders impartially including range of products, how competitive the lender’s rates are, customer satisfaction ratings and any standout features of the lender. Our reviews are our opinion and do not constitute advice, recommendation or suitability for your financial circumstances. These mortgage providers are available via our partnership with mortgage brokers L&C.
Details of products reflect what was available at the time of writing and may have changed since. Other mortgage products are available from other lenders not included on this list.
‘Best’ means our top-rated choices based various factors including how popular the lenders are with the users of our site, how competitive the lender’s mortgage rates have been in recent months – using the definition of featuring in our monthly review of the Best mortgage rates in the last 12 months, as well as the size of the lender, based on figures from UK Finance. However, ‘Best’ does not necessarily mean the cheapest or the most suitable for an individual’s specific needs.
To be included in our list of best mortgage lenders, the lender must have featured in our monthly review of best mortgage rates during the last 12 months. However, rates offered can depend on circumstances, amount and term. Also, when considering the best mortgage you should also take into account any fees. We recommend getting advice from a fee free mortgage broker that’s tailored to your circumstances.
At HomeOwners Alliance, we have reviewed a number of UK providers and assessed the range of mortgages available, the maximum loan size and the maximum income to loan ratio. This information was gathered from each provider’s website. Using this data we created ratings on a scale of 1 to 5 stars.
HomeOwners Alliance earns referral fees from L&C Mortgages for introducing people to its mortgage service. However, this does not affect our reviews of specific lenders.
HomeOwners Alliance Ltd is registered in England, company number 07861605. Information provided on HomeOwners Alliance is not intended as a recommendation or financial advice. Mortgage service provided by London & Country Mortgages (L&C), Unit 26 (2.06), Newark Works, 2 Foundry Lane, Bath BA2 3GZ, authorised and regulated by the Financial Conduct Authority (FRN: 143002). The FCA does not regulate most Buy to Let mortgages. Your home or property may be repossessed if you do not keep up repayments on your mortgage. If you complete on a mortgage through L&C, L&C will be paid a commission by the chosen lender. L&C will share a percentage of this commission with HomeOwners Alliance, the referring third party. The commission L&C receives doesn’t affect the product or rate recommended to you.
