Britain's largest mortgage lenders have a 75% share of the market despite offering less than a third of the most competitive deals, according to research.

Financial information group Moneyfacts.co.uk revealed that the UK's seven biggest providers, including Government-backed Lloyds Banking Group, Santander and HSBC, offer only 29% of the top 500 mortgage deals.

These lenders are the least competitive for people with small deposits, offering only 12% of the top deals on two-year fixed rate mortgages for people with 15% to put down when buying a property. This figure edges up to 18% for similar borrowers remortgaging to a two-year fixed rate loan.

They also offer only a fifth of leading rates for those with a 15% deposit who are remortgaging on to a five-year fixed-rate mortgage.

The big lenders were most competitive on two-year tracker mortgages for borrowers with at least 25% to put down, accounting for 48% of leading deals for house purchase and 44% for those remortgaging.They also offered 38% of the best rates available to people with a 25% deposit who were looking to remortgage on to a two-year fixed rate loan.

Source: Press Association