28 Mar

Lack of products 'hurting the market'

Lack of products 'hurting the market'

The housing market is stagnating as the number of products available on the market decreases, Moneysupermarket.com has said.

In response to figures released by the Council of Mortgage Lenders and Moneyfacts.co.uk, head of mortgage services at the organisation Louise Cuming stated that there is a lack of "confidence" among buyers.

While people may have though about moving up the housing ladder, she remarked, now they are staying where they are and this is causing the market to "seize".

First-time buyers will therefore find it harder to purchase mortgages and get on the ladder themselves, Ms Cuming observed.

She commented: "First-time buyers are the lifeblood of the industry because those are the ones that keep the cycle going. Without first-time buyers, the whole market doesn't move."

The research from Moneyfacts.co.uk revealed that only 27 per cent of mortgage deals available are from the ten biggest service providers.ADNFCR-1222-ID-18527568-ADNFCR

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