HSBC received a score of 23, significantly ahead of RBS on 18 and NatWest on 17 in Evaluate Technologies Lender of the Quarter analysis with other major lenders including Britannia, Abbey and Woolwich featuring among the top 10.
The independent online mortgage service ranked mortgage deals across all product categories and each time a lender appeared in the top 10 in the three months to September 30th they were awarded a point with the lender with the most points ranked as offering consistently good value.
HSBC has introduced a number of best-buy products - most notably its1.99 per cent discount deal. The bank's move, designed to capture a major share of the super prime market requires borrowers to hold a 40 per cent deposit.
While bailed-out RBS group were close to topping the best-buy lists, Lloyds Banking Group struggled with Halifax scoring just two points and Cheltenham and Gloucester nowhere to be seen. Similarly, Northern Rock did not feature.
A number of the smaller regional building societies performed well. Chelsea Building Society and Leek United Building Society both scored 3 points while Market Harborough scored 2.
Julie Speed, National Accounts Director at Evaluate Technologies said: "We've seen the beginnings of a high street rate war in September. While HSBC's discount deal has seen off the competitors over the last quarter, the introduction of a 1.98% deal from Woolwich in September may spark further competition in the market. It will be interesting to see whether HSBC can maintain the top spot in the coming months.
"Regional building societies have continued to show that they play an important part in the mortgage market. A number of smaller building societies have come out with products capable of challenging the big high street banks."
Most competitive lenders Q3
Mortgage Lender Score
HSBC 23
RBS 18
NatWest 17
Britannia BS 15
Mansfield BS 14
First Direct 13
Abbey 10
Woolwich 8
Post Office 6
Co-operative 5
