Highest number of mortgage products available for 15 years

The latest data on the mortgage market in the UK has found that the number of products that are currently available for borrowers is the highest it has been for a decade and a half.

These figures from Moneyfacts show that there has been a month-on-month increase in the number of products available from lenders. That makes it the fourth month in a row where product choice has risen and takes the total number of mortgage products to 5,678. The last month where there were more loans on offer (6,192) was back in March 2008.

One reason for this is the sharp increase in high loan-to-value (LTV) products. There are now more mortgages that come with LTV of 95% available on the market than there have been since the period prior to the mini-budget last autumn. In total, there are 254 such products available now, in comparison with 274 during early September of last year, just before that budget.

There has been a similar increase in the amount of 90% LTV deals on the market. Following the latest monthly rise they now stand at 709, which is the highest number since the early months of last year.

Furthermore, the amount of time that products are available for has also risen to 20 days, which is the longest since June.

This represents news that anyone who has done a CeMAP course will be pleased about, as more products available for longer is good for borrowers.


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