Moneyfacts research of the residential mortgage market reveals the choice of mortgages on offer has increased from 2,527 to 3,180 over the last 12 months. At the peak of the banking crisis in 2009, the number of mortgages fell to just 1,209.

The increase in numbers came despite a combination of rises and falls across the range of the loan-to-value tiers. Today, the 60% loan-to-value tier offers the most choice but the high deposit required limits its attraction.

The 90% loan-to-value tier is making a strong resurgence, as is the 95%, which dipped to an almost non-existent three products in 2009.

The number of days mortgage deals are available has started to lengthen, but at 27 days still falls short of the historical industry average of 30 days, which was last hit in April 2010. This shortage of days that mortgages are available indicates a higher demand than supply.

Date	Number of Residential Mortgages	Number 95% LTV	Number 90% LTV	Number 80% LTV	Number 75% LTV	Number 60% LTV
Today	3,180	49	280	457	884	393
January 2011	2,527	24	199	394	902	271
April 2009	1,209	3	72	182	453	280
Source: Moneyfacts.co.uk 17.01.12

Sylvia Waycot, spokesperson for Moneyfacts.co.uk, said:

“Although choice is growing we are still a far cry from the 11,951 residential mortgages available in 2007 before the present economic situation began.

“First time buyers are always going to struggle to find an often unrealistic 40% deposit, so thankfully, we are seeing the 90% and 95% LTVs start to return to the market.

“But a lot of providers still prefer the assurance of a proven track record which is shown by some of the incentives offered to those remortgaging such as free legal fees, free valuations or cash back.

“Despite an increasing number of mortgages appearing on the market they are only around for an average of 27 days before being fully subscribed, which just goes to show that there are still not enough mortgage deals around to satisfy demand.”

www.moneyfacts.co.uk - The Money Search Engine

Moneyfacts.co.uk is the UK's leading independent provider of personal finance information. For the last 20 years, Moneyfacts' information has been the key driver behind many personal finance decisions, from the Treasury to the high street.

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