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Mortgage deals offered by lenders leap by a third – Mortgage Brain

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  • 18/12/2018
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Mortgage deals offered by lenders leap by a third – Mortgage Brain
More than 2,700 mortgages have been added to the market over the past 12 months, representing a 29% increase in product availability, analysis has shown.

 

Deals above 90% loan to value (LTV) have seen the biggest increase – up by almost a fifth over the last six months alone, according to data from Mortgage Brain.

Since the beginning of the year, mortgages for those with a deposit of 10% or less have increased by more than half.

At the same time, an additional 1,811 products – or 30% increase – have come to the market at 70% LTV and above.

The amount of buy to let products have also shown a similar increased by around 30% over the past 12 months, the data showed.

There are a total of 12,570 mainstream mortgage products available according to Mortgage Brain’s sourcing systems – up from 9,782 at the beginning of December 2017.

Mark Lofthouse, chief executive of Mortgage Brain (pictured), said: “The increase in competition, an influx of higher LTV products and more lenders in the market, has clearly had a big impact on the growth of product numbers and availability over the past 12 months.

“Compared to this time two years ago, the market has seen a 53% uplift in product availability. While this shows that the market is in a much healthier place for all concerned, the continued growth in product numbers means that matching a client’s needs to the best products available is more important than ever.”

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