The number of mortgage loans available has become greater during early 2010, giving first-time buyers some hope for the future. Mortgages on the market declined considerably during the recession, but the numbers have shot back up as mortgage lenders start to relax their criteria.
Figures from financial information service Moneyfacts indicate that the number of mortgage loans on the market has climbed by 20%, and some of these deals are available for borrowers with a relatively small deposit of 10%.
Darren Cook of Moneyfacts was reported as commenting: "Better rates and an increase in appetite to lend could indicate that lenders are opening their doors just a little wider and trying to compete for business. If standard variable rates continue to rise, many customers will be forced to find a better deal elsewhere and lenders may now be wise and gearing towards the prospect."
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