Lenders are offering the best rates to those who bypass a broker. Last week the top three-year, fixed-rate deal was Nation­wide’s 5.74 per cent mortgage — not available via brokers.

The best three-year deal identified by online mortgage firm mform.co.uk available to brokers came from Notting­ham Building Society at 6.79 per cent.

Overall, a borrower taking a £150,000 loan would pay £38,480 for three years with Nation­wide and £41,118 with Notting­ham — a £2,638 difference, or £879 a year.

“These differences in price are material,” said Francis Ghiloni at mform. “But consumers must search the market because the lenders with the best deals change from week to week..”

For two-year, fixed-rate loans the story is similar. Princi­pal­ity Build­­ing Society offers 5.99 per cent with no arrangement fee. Brok­ers can arrange a home loan with Abbey at 5.95 per cent but this has a £1,290 fee.

However, the Assoc­iation of Mortgage Inter­med­­iar­ies, representing brokers, says professional advice will save money in the long run. “Indepen­dent research shows consumers can save £1,860 a year on a mortgage by using a broker,” a spokeswoman said.