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Number of mortgage products exceeds 10,000 for first time since 2008

20 August, 2013

According to the Mortgage Advice Bureau (MAB), the number of mortgage products available has exceeded 10,000 for the first time since 2008.

Research by the MAB also shows that the average two-year fixed rate has fallen 1.05 per cent to 3.63 per cent in the year to July, while the average five-year fixed rate has fallen by 1.01 per cent to 3.86 per cent.

This is widely believed to be as a result of the Funding for Lending scheme, which provides lenders with cheap funding in exchange for maintaining or increasing their net lending levels.

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