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first direct is named Which? most recommended mortgage provider for the fifth year running

28 Apr 2011

Using its mortgage customer satisfaction survey to find out which lenders kept its members happiest Which? has named first direct its most recommended mortgage lender for the fifth year running with a customer score of 89% (10% above its closest rival The Co-operative Bank). 

The independent group came to their conclusions by combining how satisfied their members were with their lender overall and how likely they were to recommend them to a friend or family member. They also looked at which of the lenders with the best customer scores also offered consistently good deals*. 

Richard Tolchard, Senior Mortgage Product Manager at first direct commented: 

"It's a great feeling to have won such an accolade for the fifth year running, especially as it is voted for by the public." 

Wendy Duncan, Mortgage Manager at first direct also commented in the following video: 

 http://www.newsroom.firstdirect.com/videos/first_direct_is_named_the_most

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For further information contact Rebecca Hirst on 01132766899, rebecca.hirst@firstdirect.com or Amanda Brown on 01132766700, amanda.brown@firstdirect.com

 

Notes to Editor 

* A lender must have offered at least eight top-ten mortgage deals for either moving home or remortgaging in the previous four weeks - in this case, the four weeks to 7 March 2011. 

Which? sorted products by their total cost over the deal period, including any fees payable, to find out which lenders truly offered the best value. As every borrower's situation is different, they looked at 26 scenarios every week. These included discounted, fixed and tracker deals for two and five years for borrowing low (50%) and high (90%) proportions of the property's value (loan-to-value). They also looked at tracker deals that last for the whole mortgage term for a low loan-to-value.

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(Press release created by Which? Money) The big high street banks continue to fall short of customers' expectations, with the smaller banks, such as first direct and Smile, yet again topping the Which? Money People's Choice poll*. The consumer champion's annual round-up of Which?


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