More than 800 mortgage deals for people with a 15% deposit now on the property market
dailyrecord.co.ukThe choice of mortgage products on the market has grown to more than double the level seen in the aftermath of the mini-budget last autumn, according to a financial information website.
Moneyfacts counted 5,264 options available in May 2023, marking the highest total since February 2022, when 5,356 mortgage products were on the market.Back in October last year, 2,258 deals were available.
Many mortgage products had been pulled from sale, amid market turmoil. Moneyfacts said the number of options within the 15% and 25% deposit ranges are the highest on its records, suggesting a greater stability in the level of choice.It counted 947 deals for people with a 25% deposit and 816 for people with a 15% deposit, in May.
Both figures are the highest on Moneyfacts' records going back to 2007.The average ‘shelf life’ of a mortgage product, before it is withdrawn from sale, is now 25 days, compared with 15 days in October 2022.
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