90% Fewer deals on comparison site than in 2007
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There are 90% fewer mortgage products registered on Moneysuper-market.com than in 2007, despite the number breaking through the 3,000 barrier last week for the first time since July 2009.
In June 2007 there were a total of 28,413 products available. This fell to a low of 2,177 in July 2009. But there has been a 42% increase since then, with the current number of deals sitting at 3,100.
The most significant growth has been in five-year fixed rates, which have increased tenfold since June 2009.
Hannah-Mercedes Skenfield, mortgage manager at Moneysupermarket.com, says: “After a period of uncertainty we have started to see confidence return, and although we are still a long way off the highs of 2007 it is encouraging for consumers that lenders are beginning to get back into the market.”
Figures out last week from Mortgage Brain show broker-only products on its system have climbed to their highest level in more than 18 months. It currently lists 5,805 deals, the highest number since the 6,899 seen in November 2008.
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