It is becoming increasingly clear due to a new independent survey that the banks, nationalized no so long ago through bail out, cannot offer the most competitive home owner loans and mortgages on the market.

The Government has given these banks huge loans on the condition that they would offer a competitive range of affordable loans to consumers with the aim to help the UK economy recover from recession and get the property market back on its feet again.

However, the survey, carried out by Evaluate Technologies, has revealed that the loan buys offered by the majority of nationalized banks were not included in the top ten list of home owner loan deals over the course of the first quarter of 2010.

It appears that the most competitive loan provider offering best buy loan deals over the first three months of 2010 was First Direct, responsible for as many as nineteen separate loan deals. The second place is occupied by the Post Office, followed by Alliance and Leicester. As for the nationalized banks, just the Royal Bank of Scotland and Northern Rock are listed, with only one loan deal each. The Lloyds banking was not included in the top ten list.

A spokesperson for Evaluate Technologies said it was good news that there was not just one lender dominating the market, which was characteristic of a healthy competition. Still, he added that it was not encouraging to see that the Lloyds banking group didn’t make it to the top.


The cultural transformations that have made people accept life in debt have had a direct impact on the approach youngsters take to money matters, which could lead to negative consequences in the long run as many of the next generation would resort to IVAs to cope with serious financial issues.

When we put efforts into our work and get paid for this, we get an amazing feeling of satisfaction. Our hard hard work seems to have been remunerated financially. We go shopping and buy the items we need and the items we simply want.