Number of mortgages on market growing, research reveals

04 June 2010

Written by Simon Whittaker

The number of mortgage deals currently available has increased by 42 per cent in less than a year, analysis by moneysupermarket.com has revealed.

According to the study, 3,100 products are now on offer compared with 2,177 last July when the industry hit a trough caused by the financial crisis.

Although the figure is still 90 per cent below that of three years ago, when 28,413 home loan deals were counted, mortgage manager at moneysupermarket.com Hannah-Mercedes Skenfield is optimistic.

"We have started to see confidence return and although we are still a long way off the highs of 2007, it is encouraging for consumers that banks and building societies are starting to return to the market," she said.

Five-year fixed products have seen particularly strong growth, with the number on offer expanding to ten times that of last year.

Moneyfacts also noted a recovery in the buy to let mortgage industry recently, reporting that the number of deals available to landlords has risen by 70 per cent since September 2009.

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