MORTGAGE PRODUCT AVAILABILITY ROCKETS – YOUR MORTGAGE
There’s more choice for borrowers but rates have crept up in the last month.
Residential mortgage availability has soared, said Moneyfacts, breaking through the 5,000 product barrier for the first time since May 2022.
The financial information provider said that product choice has reached 5,146 options, the highest count since February 2022 (5,356).
This is up from 2,258 last October, following the disastrous mini-Budget.
Within the individual loan-to-value (LTV) tiers, following a rise of 45 to 702, availability within the 60% LTV tier is at its highest level on Moneyfacts records. These are mortgages available to borrowers with at least a 40% deposit or equity stake.
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