The number of mortgage products available drops
July 7th, 2010 by Yas
It seems that the mortgage market is not recovering as well as expected, after reports that the number of mortgage products available in the UK dropped in the two weeks up to the beginning of July. At a time of year when many homeowners feel the need to move, this is not the news the new government expected.
The figures produced from Moneyfacts.co.uk stated that although the figures are much better than at the start of the year, when there were only 1600 products on the market, the numbers have stalled with little change to the 2600 products currently available.
The banks have also stated that they expect lending to fall over the next three months prompting fears that a new mortgage squeeze could be on the way. Mortgage rates are still dropping slightly, which is good news for borrowers, but it remains to be seen what happens in Q3 and Q4.
This entry was posted on Wednesday, July 7th, 2010 at 4:48 pm and is filed under mortgages. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.