11 June 2010

The number of available mortgage products in the UK housing market has passed the 3,000 mark, according to moneysupermarket.com.

The findings show that the number of packages offered by mortgage providers has risen by 42% since July 2009. The amount of available products is still 90% lower than the peak seen three years ago, when there were 28,413 mortgage packages on the market.

Five-year, fixed-price mortgage have seen the biggest growth, as they increased by ten times since June 2009.

Hannah-Mercedes Skenfield, moneysupermarket.com mortgage manager, stated: “It is encouraging for consumers that banks and building societies are starting to return to the market.” First-time buyers have also received good news in recent months, with a number of lenders beginning to offer 85% and 90% mortgages once again.

Source: Houseladder

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