More Mortgages Available in the UK – Moneyfacts

The latest research performed by price comparison portal Moneyfacts suggests that the number of mortgage loans available to Brits has increased lately.

As such, in the beginning of 2012, the overall number of mortgages available to UK borrowers stood at 3,180 which compares to only 2,527 at the same time last year.

Of these, there are 280 mortgages for borrowers with 10% deposit, which compares to only 199 loans in January 2010 and to 72 mortgages in April 2009.

Experts at Moneyfacts have also highlighted the return of 95% loan-to-value mortgages. Now, there are 49 loans available for borrowers with a 5% deposit, which compares to only 24 in January 2010 and 3 in April 2009.

Commenting on the findings, Sylvia Waycot of Moneyfacts, however, said that there are still not enough loans for home buyers: "Although choice is growing we are still a far cry from the 11,951 residential mortgages available in 2007 before the present economic situation began. Despite an increasing number of mortgages appearing on the market they are only around for an average of 27 days before being fully subscribed, which just goes to show that there are still not enough mortgage deals around to satisfy demand."

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