Mortgage rates are getting cheaper, with the average deal now 5.48% compared to 5.6% at the start of June, according to Moneyfacts data. So, with borrowers benefiting from more competitive pricing, which lenders consistently offer the best deals?
Our unique monthly rates analysis can help you narrow down your search. We crunch the numbers on 24 mortgage scenarios, based on typical loan amounts, term lengths and mortgage products, to reveal the lenders to watch out for.
In June, three lenders were a cut above the rest. HSBC, Nationwide Building Society (also the only Which? Recommended Provider for mortgages in 2026) and Santander all topped our table to be crowned the cheapest mortgage lenders of the month. For the typical borrower, the providers were £147 a year cheaper than the next best providers.
But our research allows us to go further and look more closely at the cheapest lenders for different types of borrowers, including first-time buyers, remortgagers and home movers. Read on to find out the lenders to look into based on your circumstances.
Trusted reviews
The links in our tables take you to the Which? review of the lender, where you can find out more about how it performed in our customer satisfaction survey and where you'll also find the latest mortgage rates (updated daily) the provider offers.
Cheapest lenders for first-time buyers
First-time buyers are generally considered riskier borrowers because they often have smaller deposits and larger loans, so you sometimes see a variety of smaller lenders in the table.
In June, four providers stood out. Our research found that for the typical first-time buyer the cheapest deals in June were offered by Beverley Building Society, Leeds Building Society, Lloyds Bank and Virgin Money.
Beverley Building Society is a smaller provider that regularly features among the cheapest lenders for first-time buyers. However, its deals are only available to applicants within a 50-mile radius of Beverley.
These results highlight the importance of shopping around for the best deal when purchasing your first home. You could find that a lender you hadn't heard of offers the cheapest deal.
Table notes: First-time buyer score based on Which? analysis of June 2026 Moneyfacts mortgage data. Table ordered by overall score, which may have been rounded to the nearest whole number. Customer scores are based on a survey of 5,016 members of the public in August-September 2025 and combine overall satisfaction with likelihood to recommend the provider. Sample size in brackets. The average customer score is 74%. To become a Which? Recommended Provider, a lender must get a top customer score, consistently offer competitive deals and be fully covered by the Financial Conduct Authority banking standards regime.
Cheapest lenders for home movers
The only Which? Recommended mortgage provider in 2026, Nationwide, was a cut above the rest in the home mover category, with a score of 99%.
For the typical home mover, Nationwide was on average £153 per year cheaper than Lloyds Bank, HSBC and First Direct.
Our research continues to show that the largest lenders often offer the cheapest deals for typical home movers.
Table notes: Home mover score based on Which? analysis of June 2026 Moneyfacts mortgage data. Table ordered by overall score, which may have been rounded to the nearest whole number. Customer scores are based on a survey of 5,016 members of the public in August-September 2025 and combine overall satisfaction with likelihood to recommend the provider. Sample size in brackets. The average customer score is 74%. To become a Which? Recommended Provider, a lender must get a top customer score, consistently offer competitive deals and be fully covered by the Financial Conduct Authority banking standards regime.
Cheapest lenders for remortgaging
Santander stood out in the remortgage market, with an exceptional 100% score. This means that they offered the market-leading deal every week we checked in June.
First Direct and HSBC were close behind, with impressive scores of 99%. This is the second month in a row these two lenders are one percentage point off a perfect score.
This is good news for borrowers because, even during market turmoil, multiple lenders offer close to the best deals: 13 providers achieved a score of at least 95%. With several lenders offering strong deals, you can choose one that suits your preferences.
Table notes: Remortgage score based on Which? analysis of June 2026 Moneyfacts mortgage data. Table ordered by overall score, which may have been rounded to the nearest whole number. Customer scores are based on a survey of 5,016 members of the public in August-September 2025 and combine overall satisfaction with likelihood to recommend the provider. Sample size in brackets. The average customer score is 74%. To become a Which? Recommended Provider, a lender must get a top customer score, consistently offer competitive deals and be fully covered by the Financial Conduct Authority banking standards regime.
Which lender should you choose?
With so many lenders to choose from, shopping around for a mortgage deal can be overwhelming. Our research can help you narrow your search and find providers likely to offer competitive deals for your situation.
You can find out how each of the 61 lenders scored overall for competitive mortgage deals – as well as more specifically for first-time-buyer, home mover and remortgage deals – using our table.
A score of 100% represents a market-leading mortgage deal based on our typical borrower scenarios. A one-point difference in the overall score equates to a saving of around £150 per year for the typical borrower.
Table notes: Overall score, first-time buyer score, home mover score and remortgage score based on Which? analysis of June 2026 Moneyfacts mortgage data. Customer scores are based on a survey of 5,016 members of the public in August-September 2025 and combine overall satisfaction with likelihood to recommend the provider. Sample size in brackets. The average customer score is 74%. To become a Which? Recommended Provider, a lender must get a top customer score, consistently offer competitive deals and be fully covered by the Financial Conduct Authority banking standards regime. N/A means a lender did not receive enough responses to generate a customer score or it was not included in our research due to having a small market share.
About our research
In our analysis, we use Moneyfacts mortgage data collected weekly on each Monday of the month.
To determine the cheapest lender of the month, we combine results across all three borrower types: first-time buyers, home movers and remortgagers. A lender can only be named overall cheapest if it offers at least one of the most popular mortgage products across all three borrowers.
We've used market data to identify the most popular mortgage types and include them in our research. Lenders are not penalised for not offering a particular type of mortgage.
To score providers, we create a typical borrowing scenario using market data, including loan amounts and term lengths. We factor in the interest rate and any initial fees to calculate the monthly cost. Each lender’s best deal is then compared with the cheapest product available for that scenario.
