25% Deposit holders getting best deals

The number of prime residential mortgage products has more than doubled in the last two years, figures from Moneyfacts show.

There are 2,447 prime residential mortgage products available today, compared with 1,097 two years ago.

There has been a threefold increase in the number of deals on offer for borrowers with a 20% deposit.

Moneyfacts says many lenders are now making their best deals available to those with a 25% deposit, so the number of deals requiring a 40% deposit is falling.
Figures from Mortgage Brain last week also revealed that across the whole mortgage market, 1,600 deals were introduced during January.

This indicates a 21% increase in the number of products available, and brings the total number of live mortgage schemes listed on its system to 9,744.

Mark Lofthouse, chief executive officer of Mortgage Brain, says: “Overall, the data from our latest analysis is very encouraging and creates a further positive view of the UK mortgage market as we move into 2011.”