Last updated at 20:09, Friday, 23 December 2011

The Cumberland Building Society is the best in Britain, according to the mortgage industry’s most respected magazine.

Chris McDonald

The Carlisle-based society was named as the best regional building society at the Mortgage Finance Gazette awards ceremony in London.

The title was awarded to the financial institution which offered the most consistently competitive mortgage rates over the last year.

The Cumberland also collected the community services award for small and medium-sized lenders.

Chris McDonald, general manager at the Cumberland, said: “We are delighted to be named the UK’s Best Regional Building Society for the second time.

“We aim to provide consistently competitive mortgages and it is great to see this recognised by an independent organisation at a national level.

“Winning the award again demonstrates our commitment to providing our customers with great value-for-money mortgages over the long term,” added Mr McDonald.

“This award is held in particularly high regard as it is takes the entire cost of a mortgage into account, including arrangement fees.

“Many best buy tables simply rank products according to the interest rate and can give customers a misleading impression of the overall cost.”

First published at 11:26, Friday, 23 December 2011
Published by http://www.newsandstar.co.uk