The availability of mortgages in the UK has increased significantly of late, new research has shown.
According to analysis from MoneySupermarket, the Bank of England’s Funding for Lending scheme – which was launched in August – has had a very positive impact on the home loan market.
It was demonstrated that the total number of mortgage products available is currently 2,781, which represents a 17 per cent rise on the 2,373 recorded when the initiative first got underway.
Clare Francis, mortgage expert at MoneySupermarket, said there are many more home loan options available to borrowers at present compared to six months ago.
However, Ms Francis added: “It is those borrowers who have the largest amount of equity in their homes who continue to benefit the most.”
The research revealed mortgage products for 60, 75 and 80 per cent loan-to-value deals climbed by 23 per cent between May and November, rising from 1,333 to 1,640 in this time.
It was also shown that 95 new two and five-year fixed products were introduced to the market in November alone.
