Market for mortgages 'remains competitive'

By Jonathan Dawes, Mon 21 Apr 2008 - Published in Mortgages

Consumers currently have a very wide choice for home loans due to the competitiveness of the mortgage market, it has been suggested.

Neil Johnson, PR and policy manager at the Building Societies Association, said that while the range of mortgages has decreased over the course of the last year, there are still a wide variety of products on the market for consumers to choose from.

"Whilst the range of mortgages has decreased over the last 12 months, customers still have a very wide choice and it is still a very competitive market," said Mr Johnson.

He added that building societies often offer a number of competitive mortgages, but noted that in the current mortgage market, providers offer different products to suit different customers.

Research conducted by Moneyfacts in March this year suggests that some 68 of the top 250 mortgages on offer in the market today come from the top ten lenders.

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