'Encouraging signs' in the mortgage market

Date:Monday 7th June 2010
Author: Max Freedman

Research by moneysupermarket.com suggests the situation in the mortgage market is improving, a spokesperson for the company has remarked.

Hannah-Mercedes Skenfield, mortgage manager at the site, noted that the past few months have seen improvement in the number of mortgage products available to consumers with smaller deposits.

Figures released by moneysupermarket.com indicate that there are currently 3,100 products on the market in total, which is a 42 per cent increase compared to July 2009.

Ms Skenfield observed: "After a period of uncertainty in the market, in 2010 we have started to see confidence return ... it is encouraging for consumers that banks and building societies are starting to return to the market."

She predicted that this trend could continue in the near future, which may be good news for individuals considering applying for mortgage.

Last week, moneysupermarket.com highlighted how savers can benefit from bonus rates, but they must keep an eye on when the promotional period comes to an end.