It has been reported that the number of mortgage deals on the market in April, is at its highest level in over a year.

There are now 3,842 mortgage products on the market, an increase of 9% on the previous month, where 3,522 products were available1

Product availability has improved for the sixth consecutive month and has recovered to almost three quarters (74%) of pre-pandemic levels, at which point there were in excess of 5,200 products to select from.

Average rates rise

Mortgage rates on both two and five-year fixed rate deals have continued to climb, with the average two-year fixed rate now standing at 2.58%, and the average five-year fixed rate stands at 2.77%, the highest it has been since late 2019.

Your home may be repossessed if you do not keep up repayments on your mortgage

1Moneyfacts, 2021

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(Your home may be repossessed if you do not keep up repayments on your mortgage)

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South Coast Mortgage Services Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority. Registered Office: 59 The Avenue, Southampton, Hampshire, SO17 1XS. Registered Company Number: 08414746 Registered in England & Wales.