News In Focus
4 February 2010
Mortgage availability up for first-time buyers
The availability of mortgages is on the rise, with the number of deals on offer up 20% compared with the start of the year, according to the financial information service Moneyfacts.
Mortgage providers have also started to become more generous with their criteria since October, when 66% of deals on offer required a deposit of at least 25%.
The number of deals on offer requiring a deposit of only 10% is up by 26%. More than 300 new mortgage products have been launched since 1 January.
The number of deals on the market – some 1,700 – is the highest since November 2008 and suggests there is more competition in the market.