Mortgage choice up 42 per cent, moneysupermarket.com finds

Date:Friday 4th June 2010
Author: Max Freedman

There are 42 per cent more mortgages on the market now compared with July last year, one price comparison website has revealed.

Research by moneysupermarket.com found that the number of products available is greater than 3,000 for the first time in almost a year, although this figure is still down 90 per cent on three years ago.

The company's mortgage manager Hannah-Mercedes Skenfield said that it appears confidence is beginning to come back after the financial crisis.

"Although we are still a long way off the highs of 2007, it is encouraging for consumers that banks and building societies are starting to return to the market," she commented.

The statistics follow a study by Moneyfacts.co.uk last month, which also indicated that the situation is looking far more favourable for consumers.

It discovered that average fixed mortgage rates are significantly lower at the moment compared with the average seen since March 2009.