The number of loans offered by mortgage lenders has increased considerably this year. The financial information service Moneyfacts highlighted some 1,798 mortgage loans with deposits between 0 per cent and 40 per cent. This represented a 6 per cent increase in availability on a month ago, and a huge 68 per cent increase on a year ago.
Furthermore, the data showed an increase in the number of mortgages available with 10 per cent and 15 per cent down-payments. This represents an increase of 90 per cent on a year ago.
Michelle Slade of Moneyfacts reportedly commented: "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."
Number of mortgage loans increases
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Number of mortgage loans increases
Mon, 08 Mar 2010
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