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Number of Mortgage Products Available Increase 42 Percent
According to moneysupermarket.com the number of mortgage products available has reached over 3000, this is an increase of 42% compared to this time last year, where there was only 28,413 products were available.
The biggest increase has been seen in the variety of five year fixed rates, compared to June 2009 this has increase by ten times what was previously on offer.
Hannah-Mercedes Skenfield, Mortgage Manager at moneysupermarket.com, commented: “After a period of uncertainty in the market, 2010 has seen confidence starting to return to the industry and it is encouraging for consumers that banks and building societies are starting to return to the market. Over the past couple of months we have started to see some relaxation in the number of products for borrowers with small deposits, with a number of lenders reintroducing products offering 85 and 90 per cent mortgages. This is good news, particularly for first time buyers."
