Mortgage products are on the Increase

Published: 16/01/2023 By Jon Summers

There’s encouraging news for prospective purchasers as the range of mortgage products available increases. Partner and Head of Agency Jon Summers has the details.

Following an unsettled few months, it is reassuring to learn that mortgage product choice has recovered this month.  According to the latest Moneyfacts data reports, more than 4,000 options are available for the first time since August 2022.

Product choice stands at 4,341 options, up from 3,643 in January 2023, whilst availability within the 60% loan-to-value tier is at its highest level in three years.

As Head of Agency at Symonds & Sampson, Partner Jon Summers closely follows the mortgage market.  “This is obviously good news especially when two and five-year fixed rates fell for a third consecutive month. Additionally, the ‘shelf life’ of a mortgage deal, which was just fifteen days, is now twenty-eight days, thus giving people more time to consider their purchases.

“Symonds & Sampson are not mortgage advisors, but we have strong links with independent firms who specialise in providing fair and honest advice. Agents within our offices can refer prospective purchasers to those brokers for advice on all types of mortgages, including first-time-buyer and buy-to-let mortgages.”

For help and advice on securing your next property, contact our residential agents in your nearest office, or call 01305 251154