{"id":18771,"date":"2018-07-11T12:12:28","date_gmt":"2018-07-11T11:12:28","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=18771"},"modified":"2018-07-11T12:12:28","modified_gmt":"2018-07-11T11:12:28","slug":"mortgage-borrowers-spoilt-for-choice-as-product-numbers-climb","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/zh-hk\/2018\/07\/11\/mortgage-borrowers-spoilt-for-choice-as-product-numbers-climb\/","title":{"rendered":"Mortgage borrowers spoilt for choice as product numbers climb"},"content":{"rendered":"<p><strong>Increased competition between mortgage providers has resulted in more than 5,000 mortgage products being available to borrowers &#8211; the highest number seen since the 2008 financial crisis.<\/strong><\/p>\n<p>According to the Moneyfacts UK Mortgage Trends Treasury Report, the market has increased by 244 products month-on-month. In June, 4,791 <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2018\/07\/06\/new-buy-to-let-mortgage-products-could-boost-retirement-income\/\">mortgage products<\/a> were available on the market, while this month borrowers have access to 5,035 products; the largest monthly increase since November 2014.<\/p>\n<p>Currently, <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2018\/06\/05\/seeking-immunity-from-rate-rises-try-long-term-fixed-rate-mortgages\/\">fixed-rate deals<\/a> make up 82% of the mortgage products available, as lenders capitalise on borrowers\u2019 desire to secure a low mortgage rate before the <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2018\/05\/31\/anticipated-base-rate-rise-drives-april-mortgage-market\/\">anticipated increase<\/a> in the base rate later this year.<\/p>\n<p>Borrowers with <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2018\/06\/01\/northern-highlights-buyers-save-bigger-deposits-in-north-and-scotland\/\">smaller deposits<\/a> seeking a mortgage with a 90% loan-to-value are also benefiting from the booming product availability, with fixed product numbers reaching 624 \u2013 the highest on Moneyfacts records.<\/p>\n<h4>Wider range of incentives<\/h4>\n<p>Unusually, the availability of <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2018\/07\/03\/record-choice-of-mortgages-available-for-first-time-landlords\/\">extra products<\/a> on the market does not seem to have driven average mortgage rates any lower. It seems lenders are hedging their bets on a base rate rise and don\u2019t want to get caught out with unsustainably <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2018\/06\/12\/lenders-explore-new-ways-to-attract-customers-with-low-tracker-rate\/\">low rates<\/a>, choosing instead to incentivise new customers with alternative benefits such as fee-free and <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2018\/05\/14\/lenders-increase-cashback-deals-to-attract-first-time-buyers\/\">cashback<\/a> deals.<\/p>\n<p>Borrowers have never had more choice in recent years but determining what the <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2018\/05\/18\/borrowers-failing-to-secure-a-new-deal-before-current-deal-ends-pay-more\/\">best deal<\/a> is can be difficult. It\u2019s as important as ever for borrowers to make sure they choose the right deal for their circumstances, and not get blinded by appealing incentives. Borrowers that find navigating the products available <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2018\/07\/04\/homebuyers-could-save-thousands-if-they-understood-the-jargon\/\">complicated<\/a> would be wise to seek expert advice before making a final decision.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Increased competition between mortgage providers has resulted in more than 5,000 mortgage products being available to borrowers &#8211; the highest number seen since the 2008 financial crisis. According to the Moneyfacts UK Mortgage Trends Treasury Report, the market has increased by 244 products month-on-month. In June, 4,791 mortgage products were available on the market, while<a class=\"excerpt-read-more\" href=\"https:\/\/www.buyassociationgroup.com\/zh-hk\/2018\/07\/11\/mortgage-borrowers-spoilt-for-choice-as-product-numbers-climb\/\" title=\"ReadMortgage borrowers spoilt for choice as product numbers climb\">&#8230; Read more &raquo;<\/a><\/p>\n","protected":false},"author":3380,"featured_media":18777,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4,26,6],"tags":[25,341],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/zh-hk\/wp-json\/wp\/v2\/posts\/18771"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/zh-hk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/zh-hk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/zh-hk\/wp-json\/wp\/v2\/users\/3380"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/zh-hk\/wp-json\/wp\/v2\/comments?post=18771"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/zh-hk\/wp-json\/wp\/v2\/posts\/18771\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/zh-hk\/wp-json\/wp\/v2\/media\/18777"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/zh-hk\/wp-json\/wp\/v2\/media?parent=18771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/zh-hk\/wp-json\/wp\/v2\/categories?post=18771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/zh-hk\/wp-json\/wp\/v2\/tags?post=18771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}