You are here: Home - News -

Number of mortgages on offer reaches nine-year high

by: Christina Hoghton
  • 10/05/2017
  • 0
Number of mortgages on offer reaches nine-year high
Borrowers have more choice of products today than at any time since 2008, according to research.

The number of mortgage products available has increased by 849 in just one year to reach its highest point since March 2008, according to Moneyfacts.

The financial information provider said there are now 4,460 mortgages on offer to UK borrowers, compared to 3,611 a year ago. But this is still way off the 6,192 products available in March 2008.

However, the breakdown of products was very different back in March 2008. The number of products at 60% loan-to-value (LTV) stood at just 24, whereas today that number is 549 – an increase of 525 products. Conversely, back in 2008 there were 575 deals available at 95% LTV, whereas today there are 257.

Charlotte Nelson, finance expert at Moneyfacts, said: “This increase to product numbers is largely due to the amount of competition in the market. Lenders are currently faced with borrowers who lack the motivation to switch from their Standard Variable Rate, meaning providers could potentially lose a sizeable chunk of their mortgage book very quickly.

“This uncertainty means providers now have to remain on top of their game to ensure they look attractive when borrowers start to consider remortgaging.”

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @robjupp: Great day yesterday for donations to @MortSleepOut. With Gift Aid, we are now close to £17,000. It would be great to get to £2…

Read previous post:
Interest-only behind equity release growth

Interest-only is driving the expansion of the equity release market, according to the latest Market Monitor from Key Retirement, with...