Available mortgages 'top 2,500'

Date:Monday 18th January 2010
Author: Susanna Kavka

There are now 2,500 different mortgages available on the market for the first time in almost a year, according to reports by moneysupermarket.com.

Following the third consecutive monthly increase in the number of products on the market, borrowers can now choose between 2,516 different mortgages, as of January 12th.

However, this is 12 times less than the 30,000 products which were on the market back in August 2007.

Hannah-Mercedes Skenfield, mortgages channel manager at moneysupermarket.com, said that while the numbers are a long way from a full recovery, they are moving in the right direction.

"This is good news for buyers, as passing the 2,500 barrier does suggest that those looking for a mortgage are finding more and more choice, and where there is choice, there is competition," she stated.

Consumers looking for mortgage advice can now receive help from the price comparison site, as it has teamed up with mortgage broker London and Country to provide an over the phone help service.