Moneyfacts, the independent mortgage market monitor of all things ‘mortgage’ has reported that overall mortgage availability rose in January 2021, to 3,215 products! That’s the highest since the lockdown began and the 4th consecutive increase in availability in as many months.

Even better news, a mortgage product to have experienced really good growth has been the availability of mortgages where the Loan to value or LTV ratio is 90%, meaning that there are lots more mortgages available to homebuyers with just a 10% deposit. Add to this the fact that from April some lenders will be offering 95% mortgages (backed by the government), this can only be a good thing

This, compared with an apparent restoration of stability in the lending market marks some good news for homebuyers looking to move this year. This stability is being reflected in the lengthening of product ‘shelf life’ and availability of various mortgage products offered by lenders.

Recently, mortgage offers were available for as little as just 28 days. Now many are available for 40 days, making the choice to borrowers wider and more varied.

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