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Mortgage products rise over 3000

by: Mortgage Solutions
  • 07/06/2010
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The total number of mortgage products available has jumped to 3100, up 42% on the low of 2177 seen in July last year, according to Moneysupermarket.

The comparison website’s figures showed that this is the first time mortgage products have numbered over 3000 since the end of March 2009.

However, this is still significantly down on the market’s peak in June 2007 of 28,413 mortgage products.

Moneysupermarket said the most significant growth has been in the range of five-year fixed-rate deals, up ten times on the number available in June 2009.

Hannah-Mercedes Skenfield, mortgage manager at Money­supermarket, said: “After a period of uncertainty in the market, we have started to see confidence return, and although we are still a long way from the highs of 2007, it is encouraging for consumers that lenders are starting to return to the market.”

Alan Lakey, principal of Highclere Financial Services, commented: “It is positive sign. A number of lenders have come back to the market with some real offerings, but it is too early to say that this is a sign of real recovery.”

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