Egg tops mortgage poll

Egg is offering customers the best deal on variable rate mortgages, according to a new survey.

Moneyfacts.co.uk found that in the period from July last year to June this year, Egg customers paid £414 more in interest payments on a variable rate £100,000 mortgage.

At the other end of the scale, The Mortgage Business was the most expensive, costing customers an additional £422 interest payments.

"Our latest survey reveals that the amount of interest payable on a £100,000 mortgage are on average £401 higher than our last survey released in January this year," said Darren Cook, head of mortgages at Moneyfacts.co.uk.

"Skipton BS customers should be pleased to see that their annual interest costs on a standard variable mortgage have only increased by £36.76, due to a generous rate reduction of 0.75 per cent in July 2004."

There was only one interest rate during the period that the Moneyfacts.co.uk survey looked at, but last year's earlier rate rises are continuing to keep house prices on hold.