2024 has been another busy year for the mortgage market, with two long-awaited interest rate cuts taking some of the pressure off mortgage borrowers and aspiring homeowners.
But rates are still much higher than just a few years ago, so affordability issues remain for many borrowers.
That means lenders and mortgage-related businesses need to be flexible, innovative and responsible to support their customers through what remain challenging times.
35 years young
The Your Mortgage Awards started 35 years ago, back in 1989/90, another pivotal time for the mortgage market in very different ways.
The make-up of the UK mortgage market has changed enormously in the last 35 years. First-time buyers are many in number but they are older, richer, having to borrow more, and far more dependent on family members to help them onto the ladder.
Buy-to-let landlords barely existed back in ’89 and, despite facing challenges today, privately rented property accounts for almost 20% of the UK’s housing stock.
What about 2024?
This year has been dominated by economics and politics, leaving little room for manoeuvre in the mortgage market. Lenders have been busy responding to falling inflation, a Conservative budget, a general election, interest rate cuts, a Labour budget and, more recently, the US election result.
While the big decisions have shaped the direction of the housing and mortgage market, on the ground consumers have continued to need the same help and support as ever.
The good news is that our award winners have provided this time and again throughout 2024, focusing on customer outcomes whatever the wider economic picture.
We’ve seen standout efforts from the biggest lenders to the smallest building societies, and plenty in between, highlighting the scale and diversity of the UK mortgage market.
Jamie Hurst, publishing director of Your Mortgage, said: “We’ve been recognising our Your Mortgage Award winners for 35 years and our 2024/25 crop have impressed us yet again, giving their customers the best possible mortgage and homebuying experience.
“Huge congratulations to all our winners for their hard work and innovation over the last 12 months.”
Our award winners
Well done to each of this year’s winners of the Your Mortgage Awards 2024/25, listed below:
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Best Intermediary Mortgage Lender – Accord Mortgages
Best First-Time Buyer Mortgage Lender – Skipton Building Society
Best New-Build Mortgage Lender – Halifax
Best Shared Ownership Mortgage Lender – Leeds Building Society
Best Remortgage Lender – NatWest
Best Offset Mortgage Lender – Coventry Building Society
Best Large Loan Mortgage Lender – Halifax
Best Self-Employed Mortgage Lender – Halifax
Best Buy-to-Let Mortgage Lender – The Mortgage Works
Best Professional Buy-to-Let Mortgage Lender – The Mortgage Works
Best Credit Repair Mortgage Lender – Pepper Money
Best Product Transfer Provider – Halifax
Best Second Charge Mortgage Lender – Together
Best Later Life Mortgage Lender – LiveMore
Best Specialist Mortgage Lender – Pepper Money
Best Green Mortgage Lender – NatWest
Best Life Insurance Provider – Aviva
Best General Insurance Provider – LV=
Best Surveyor – Countrywide Surveying Services
Best Legal Services Provider – Simplify
Best Online Mortgage Lender – Atom Bank
Best Lender for Service – Halifax
Best Building Society – Nationwide
Best Bank – NatWest
Best Overall Mortgage Lender – Halifax