4 Jun

Mortgage products 'number more than 3,000'

Mortgage products 'number more than 3,000'

People seeking a mortgage may find it easier now than they did over past months, it has been suggested.

According to moneysupermarket.com, the number of products available has risen by 42 per cent since July 2009.

The price comparison website revealed that there are now more than 3,000 such loans on the market.

Whereas people seeking to buy a home or remortgage an existing property had access to a total of 2,177 products in July last year, they can now browse 3,100.

Responding to the development, moneysupermarket.com's Hannah-Mercedes Skenfield said: "After a period of uncertainty in the market, in 2010 we have started to see confidence return."

She added that it is encouraging for consumers that banks and building societies are starting to return.

Recently, the Bank of England noted that the level of net mortgage lending in the UK increased in April by £0.5 billion compared with the previous month.

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