Lenders are offering 'more mortgage products'

Posted: 02 Aug 2010 10:37:58 GMT

More mortgage products are available direct from lenders, a new survey has indicated.

According to a report from moneysupermarket.com, 90 per cent of products can be found through financial institutions, rather than having to go to a broker.

Head of banking at the organisation Kevin Mountford said the financial turmoil seen recently has turned the mortgage market on its head.

"Due to the lack of supply and high demand lenders can take full advantage of the current situation rather than having to push their products through brokers, which they previously relied on," he added.

Mr Mountford noted consumers are more knowledgeable when it comes to their finances and many have begun to shop around for the best products.

Furthermore, he suggested those who do not bother to look for the best deal will lose out.

Last week, Lucian Cook, director at Savills, claimed mortgages will carry on being "affordable" if interest rates stay at an historic low.

He remarked those with deposits will have no problem securing a good deal on a home loan.



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