Mortgage product numbers increase

Tue, 19 Jan 2010

For the third month in a row, the number of mortgage loans available on the UK mortgage market has continued to climb. However, mortgages remain some 90% below the peak of the market in August 2007.

At this stage, there are around 2,516 mortgage loans available in the UK, reflecting the gradual return to competition in the mortgage market . Despite the positive signs, there is little doubt that more competitive deals are needed to return the mortgage market to a healthy level.

Prior to the collapse of Northern Rock and the onset of the credit crunch, there were around 30,000 mortgage products available in the UK. The decrease reflects the collapse of the housing boom and the problems faced by the property market ever since.
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