Its analysis shows a first-time buyer taking out a mortgage with HBOS, Lloyds, Northern Rock Royal Bank of Scotland or any of their subsidiary brands would pay on average 5.02 per cent, while for the lenders that have not been bailed out the average is 4.87 per cent.
That equates to £48.67 extra on a £150,000 loan including all fees.
The lenders mform.co.uk used for comparison, that have not been bailed out by the UK Government are Abbey, Alliance & Leicester, Bristol & West, Britannia, Co-Op, First Direct, HSBC, ING, Woolwich and Nationwide to make a fair comparison.
Mform.co.uk marketing and business development director Francis Ghiloni, says: “It is striking that despite all the Government action to boost the mortgage market that the bailed-out banks are significantly more expensive on many products.
“The Bank of Gordon might be the bank that likes to say yes and that is a good thing if it lends. It would be good though if it was also the bank that offered the best deals.
“Borrowers should not necessarily always steer clear of the Bank of Gordon as some of the members offer good deals. The key to reviving the market though is more competition and the trend of the past few months has been a lack of competition.”