Home loan offers in UK for customers only

Mortgage lenders in the UK are restricting one in four home loans to existing customers.

Different mortgage loan deals are up to 2,948 from 1,686 since July last year, according to market analyst Defaqto.

However, 26 percent of these loans can only be taken out by building societies’ and banks’ existing customers.

Kevin Bray of Defaqto said that “the banks are keen to become one-stop shops for all their customers’ financial product needs – and offering special mortgage deals to current account customers is part of this.”