Borrowers boosted as mortgage deals return - Mortgages - News - Moneyfacts


Borrowers boosted as mortgage deals return

Borrowers boosted as mortgage deals return

Category: Mortgages

Updated: 10/02/2010
First Published: 10/02/2010

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Homebuyers have received a welcome boost after it was revealed the number of mortgages available in the market increased by almost 19% during January.

According to the latest research from, a grand total of 2,155 mortgage deals were on offer at the end of last month, 339 more than at the end of December.

The residential market received the greatest boost with the introduction of 311 products, while 28 additional buy-to-let deals were unveiled by providers.

The number of mortgages banks and building societies were willing and able to offer to homebuyers dropped considerably after the onset of the credit crisis, as funding difficulties took hold.

However, since reaching a low of just 1,209 products in April last year, more than 700 new deals have now been introduced.

Meanwhile, the bad weather saw activity in the housing market catch a winter cold during January.

According to the latest survey from the Royal Institution of Chartered Surveyors (RICS), buyer interest fell for the first time in 14 months, while new instructions to sell dropped for the first time in seven months.

However, surveyors still reported a rise in house prices, with expectations that further increases might be on the cards over the next few months at least.

"House prices are likely to rise in the short term but if more supply continues to come onto the market, it is possible that the market will run out of steam in the latter part of the year," said Ian Perry, RICS spokesperson.

Find the best mortgage for you - compare fixed rate mortgages

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Does your mortgage lender owe you money?

Earlier this week, the financial watchdog revealed that hundreds of thousands of mortgage holders could have been overcharged by their lender. Are you one of the many who could be in line for a windfall?

Do you think your home will rise in value?

There’s been a lot of talk recently about the rate of house price growth slowing, but is it affecting your personal expectations? According to research, it could be, with fewer people now expecting the value of their property to increase.

Confidence among “second steppers” is on the rise

We all know how difficult it can be taking that first step on the ladder, but what about the second step? In many cases, getting onto the next rung can be just as challenging, but happily, confidence among this cohort appears to be on the rise.