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mortgage deals on offer from lenders increase
Moneyfacts has announced that, according to their figures, the availability for homebuyer’s mortgages has improved over the past month.
At the beginning of March there were over 1,500 different deals available which required deposits of between 0% and 40%, a 68% increase compared to last year.
There are now nearly 500 deals available that ask for either 10% or 15% down-payments, which is an increase of 90% compared to last year.
Michelle Slade of Moneyfacts comments: "There are a growing number of mortgage providers who are becoming a little more accommodating with their credit criteria and this bodes well for consumers who will benefit from a growing competitive mortgage market. It is pleasing to see that the average mortgage rate is falling at the same time as deposit requirements are getting smaller."
