Qualified advisers answering your
Financial Questions
call 0800 092 1245

Mortgage choice hit by credit crisis

The range of mortgage deals available in the UK property sector has been reduced dramatically by the credit crunch. According to figures from Moneyfacts, the number of deals on the market has fallen from 15,599 to 5,725. This represents a fall of two-thirds, with the fall being attributed to lenders seeking to shore up their exposure to risk. Choice for sub-prime borrowers has seen the most marked decrease, with the range of these products falling from 9,531 to 1,798 - a drop of 81 per cent. Louise Cuming, head of mortgages at, said: "I think when the credit crunch first hit, we thought that it might be short-term. "Now if you talk to some of the lenders, they are talking about two to three years before they get back on an even keel."She added: "Even then we won't get back to the full availability of such cheap deals we saw before then. It will be at least 12 months before we see things stabilise."

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details