Independent Mortgages Direct NE

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Mortgage Product Numbers Fall As Lenders Pull Deals

The number of residential mortgage products has fallen by almost 7% from 5,385 deals to 5,012, while the number of buy-to-let mortgages has decreased by 14% from 2,748 deals to 2,343 in the last week which is having the predicted impact on mortgage rates with the average rates on a two and five year fixed rate residential mortgage rates rising to 5.38% and 5.05% respectively and the average two and five year fixed rate Buy to Let mortgage rates increasing to 5.61% and 5.52% respectively.