Commenting, Louise Cuming, head of mortgages at moneysupermarket.com said, "Last week was a grim one in the mortgage market with the number of deals available falling 23 per cent (in a week) from 4,930 to just 3,785. Since April 2007 the number of mortgage products on offer has now fallen by 86 per cent. Most of the products that were scrapped last week were sub-prime, highlighting the disappearing options for these borrowers."
The mortgage market in statistics
Three-month Libor rate: 5.95% (-0.17 from a week ago)
Total number of mortgage products: 3,785 (-1,145)
Number of lenders offering two-year fixed mortgages: 47 (-4)
Number of lenders offering three-year fixed mortgages: 56 (-1)
Number of lenders offering two-year tracker mortgages: 22 (+1)
Average best two-year fixed from each of the main providers: 5.62% (-0.08%)
Average best three-year fixed from each of the main providers: 5.80% (+0.01%)
Average best two-year tracker from each of the main providers: 5.73% (-0.06%)
Number of lenders offering 90% LTV mortgages: 42 (+2)
Number of lenders offering 95% LTV mortgages: 17 (+2)
Numbers of lenders offering 100% LTV mortgages: 2 (0)
