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 Good news - there are more mortgages and many are cheaper

It’s not just housing transactions that signal a red-hot market - the mortgage landscape is at its strongest for some time too.

Data from independent consultancy Moneyfacts shows that the number of residential mortgages on offer rose for the seventh consecutive month to 3,927. 

There are now 78 more deals at 95 per cent Loan To Value and 41 more at 90 per cent LTV than last month, giving a boost to those with small deposits. 


Following nine months of increases, the average overall two-year fixed rate reduced by 0.01 per cent to 2.57 per cent this month.

“The sense of optimism in the mortgage sector continues, with product choice continuing its climb back towards pre-pandemic levels. After seven months of consecutive increases and 3,927 products now on offer, this represents a 53 per cent rise year-on-year” explains Moneyfacts spokeswoman Eleanor Williams.

She says higher LTV products returning and rates reducing couldn’t come at a better time as house prices continue to rise. 

There has also been a reduction in the average fee charged by lenders - excluding no-fee deals - and the average shelf-life of a mortgage deal has extended slightly, “which means that borrowers have around a month to secure their chosen product.”


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