Analysis from comparison site, moneysupermarket.com, showed that in June 2007 there were a total of 28,413 mortgage products available. This fell to a low of 2,177 in July 2009, but the website said there has been 42 per cent increase since then with numbers sitting at 3,100.
The number of five year fixed rates have increased by ten times the number on offer in June 2009.
Hannah-Mercedes Skenfield, mortgage manager at moneysupermarket.com, said: “The financial crisis really hit the mortgage market hard with the number of products falling by a massive 92 per cent. After a period of uncertainty in the market, in 2010 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.
“Over the past couple of months we have also 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.”
