Better.co.uk's marketing claims

As you go through our website, you’ll spot a number of claims about why we think you might want to use our service.

We make sure to only make a claim if we can back it up with evidence. This is partly because we do not want to mislead anyone. But it’s also because it’s important that you feel you can trust us.

After all, we’re lucky enough to be in the position to potentially manage your largest financial commitment.

For clarity and transparency, we’ve listed our marketing claims below, along with the evidence to back them up.

1)  90% of customers rated their Better.co.uk experience 5/5 on Trustpilot

When we say ‘You’re better off with Better.co.uk’, it’s for a reason.

We’ll always put your interests first, and are pleased to say that our customer reviews are a testament to that.

More than 7,700 customers have reviewed their experience with Better.co.uk on the impartial review site Trustpilot.

Here’s how the results break down:

• 90% rated us 5/5

• 5% rated us 4/5

• 0 to 1% rated us 3/5

• 0 to 1% rated us 2/5

• 3% rated us 1/5

We strive for everyone to have an excellent experience. So rest assured, the few low ratings keep us busy working hard to improve our service further.

Source: Trustpilot Better.co.uk reviews

Accurate as of: August 2023

2) We’re the UK’s joint best-rated online mortgage broker

Here’s a list of online brokers with over 100 Trustpilot reviews that we know of, next to their overall Trustpilot ‘TrustScore’:

• 4.8 - Better.co.uk

• 4.9 - Tembo

• 4.8 - Habito

• 4.5 - Mojo

• 4.6 - London & Country

Source: Trustpilot

Accurate as of: January 2024

3) How we calculate your potential remortgage savings

Our remortgage calculator looks at your current monthly repayments and sees if you could reduce your payments by switching to a new 2 year fixed or tracker rate repayment mortgage with a current market interest rate.

The calculator works out your LTV (loan to value) ratio and then selects an example interest rate based on these bands:

• >0% =< 20% LTV - 6.34%

• >20% =< 30% LTV - 6.04%

• >30% =< 40% LTV - 6.06%

• >40% =< 50% LTV - 5.99%

• >50% =< 60% LTV - 6.04%

• >60% =< 70% LTV - 6.09%

• >70% =< 80% LTV - 6.09%

• >80% LTV - 6.29%

These interest rates are the average interest rates for recommended remortgages in these LTV bands we have made to customers between 26th July 2023 and 9th August 2023.

These rates do not take into account your personal circumstances.

To find out what mortgage rate you could actually get, talk to a mortgage broker (like Better.co.uk).

4) Better.co.uk customers save £525 a month on average in June 2024.

In June alone, Better.co.uk remortgage customers saved an average of £526 a month on their mortgage.

We know the amount each lender charges when a mortgage is based on the lender's Standard Variable Rate, so we can calculate the difference between this and the lower monthly payments on the mortgage deal we secure for our customers.

Source: Better.co.uk data

Accurate as of: June 2024

5) We have access to exclusive mortgage deals you cannot get directly from lenders

Brokers, like Better.co.uk, can access exclusive deals with lenders.

You can only get these deals by going through a broker, rather than going directly to the lender.

This means we have more choices when finding the right mortgage for you. Lenders can only offer you their own mortgages.

6) No trees have been turned into paperwork, thanks to customers using our online service

Traditional mortgage brokers often require you to complete lots of paperwork and provide printed documents in order to submit a mortgage application.

But by using Better.co.uk - an online mortgage broker - you won’t have to fill out or print any paperwork. So those trees can live to breathe another day.

For full transparency, there are very few circumstances where we may need to ask for paperwork on behalf of the lender. But these cases are so rare that we think it’s fair to say that this claim applies to practically everyone who uses our service.

7) How we calculate your monthly repayments

Our Mortgage in Principle page includes a repayment calculator that estimates your monthly mortgage payments.

This calculator is pre-filled with some of the details from your MIP, such as your maximum borrowing amount and deposit. You can change the initial period, term and mortgage type to see how your repayments would change.

The interest rate is an example market-leading rate, based on your borrowing amount, deposit, and the other details that you can see in the calculator.

The calculator is for guidance only. You should talk to a mortgage broker like Better.co.uk to get an accurate idea of how much you can borrow and what your monthly repayments would be.

Source: Better.co.uk

Accurate as of: March 2023

8) How our new Mortgage in Principle works

Our new enhanced Mortgage in Principle is a great way of checking your mortgage affordability and eligibility without actually applying for a mortgage and leaving a mark on your credit file. When you use our enhanced MIP, we use Experian (one of the UK’s three main credit reference agencies) to check two things: your credit history, and your mortgage affordability with 18 mortgage lenders, including 5 out of 6 of the high street banks. This is a “soft” check of your credit file and does not affect your credit score. It’s important to note that the results from our enhanced MIP are based on the data that you provide, including your income and deposit. Our enhanced MIP is not a guarantee that you can get a mortgage or borrow a certain amount of money. But if your details are accurate, then our enhanced MIP should also be accurate.

Here's how your max borrowing amount is calculated:

• Your MIP is based on your income, deposit and credit history

• We check your details with 18 lenders and assume a 5% deposit to calculate the maximum amount you can borrow

• Most lenders will lend up to 4.5 or 5 times your annual income

You should talk to a mortgage broker to get a more accurate idea of how much you can afford to borrow and to find the right lender and mortgage to suit your circumstances.

Source: Better.co.uk

Accurate as of: 14 February 2022