Every Friday we get an overview of the mortgage market with the help of industry experts. This week the guys at Moneyfactscompare.co.uk are helping us focus on first-time buyers - and why building societies may provide the best option for them.First, the broader mortgage market.
'The big-seven bank average is actually lower, Moneyfacts says - but 'the lowest rate deals might not be the best on a true cost basis'. 'Mutuals have pioneered innovative products and initiatives for buyers, such as the Track Record mortgage from Skipton Building Society, the £5,000 deposit mortgage from Yorkshire Building Society and the partnership between Leeds Building Society and Experian to potentially help consumers to boost their credit score,' Rachel says.
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