Mortgages can cost less in the west

WEST is best for mortgages according to new research from online broker Empruntis which says it has found lenders in the east of the country charging higher interest rates.

The broker said it was possible to get a 4% fixed-rate loan over 15 years and 4.25% over 20 years in the west and south-west but the best obtainable in the east were 4.25% over 15 years and 4.5% over 20 years. The disparity is because there are more mutual banks such as Crédit Mutuel in the west, meaning that competition drove interest rates down.