John Charcol questions moneysupermarket.com mortgage stat

Date:Tuesday 25th May 2010
Author: Max Freedman

A representative from John Charcol has disagreed with a mortgage statistic released by moneysupermarket.com regarding five-year fixed-term mortgages.

The price comparison site claimed the number of such mortgage arrangements available currently is ten times what it was three years ago, with the quantities of other deals all falling dramatically during that time.

Responding to this statement, senior technical manager at John Charcol Ray Boulger suggested it sounded like "complete rubbish" to him.

He stated: "When you consider that there are a lot less products in the market now in total than there were three years ago, there is no logical reason why there should be ten times as many fixed."

Mr Boulger noted how moneysupermarket.com listed there being 39 five-year fixed-rate deals available in April 2007, but he believes there were more than that.

The study by the comparison site also found the total number of mortgages available is currently 12 per cent of what it was three years ago.