8 Mar

Mortgage availability 'on the rise'

Mortgage availability 'on the rise'

The availability of mortgages is increasing, new figures produced by Moneyfacts suggest.

According to the organisation, at the start of this month, there were a total of 1,798 products on the market that required deposits of between zero and 40 per cent.

This was an increase of six per cent compared with the previous month, meaning those seeking property for sale in Norfolk, as well as other places, may have more choice.

In addition, it was an increase of 86 per cent on the year before.

Moneyfacts' Michelle Slade said: "There are a growing number of mortgage providers who are becoming a little more accommodating with their credit criteria and this bodes well for consumers who will benefit from a growing competitive mortgage market."

Recently, Catherine Hearnden, director of MyMortgageDirect, suggested that banks and building societies should make lending conditions less strict as this would boost the property market.
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