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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MORTGAGE LENDING CONTINUES TO SOAR

MORTGAGE LENDING CONTINUES TO SOAR

Mortgage lending has soared to record levels, according to latest data from the Bank of England1, which reveals that gross advances in Q1 totalled £83.3bn, which represents a 26.5% increase on the same quarter in 2020 and the highest level since Q4 2007. Impact of the...

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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.