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Mortgage numbers decline

The number of different mortgage products available to house-buyers has dropped significantly over the course of the last year, a new study has revealed.Research carried out by Mortgage Monitor found that the number of mortgage deals in the market has decline by 76 per cent to just 16,000.There were 68,000 mortgage products available to homeowners this time last year, the report said, indicating the increased difficulty buyers could now face securing a loan.Despite this, buyers could still find a good deal, according to Mortgage Monitor's chairman Les Jacobs."We know that the number of mortgage deals available is on a dramatic decline, but there are still some good deals out there," he said, adding that consumers should act quickly to take advantage of a good product. A recent report from the Royal Institution of Chartered Surveyors suggested that the number of house purchases completed this year is likely to fall by 40 per cent during 2008.

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