Recent market data reveals that the variety of mortgage products available in the UK is the highest since 2008. Increased competition among lenders and improving economic stability have driven this surge.
Major banks and building societies, such as Halifax, HSBC, and Nationwide, have introduced new mortgage deals—including fixed rates below 4%—to attract borrowers. This shift benefits buyers and investors by providing more options tailored to different financial needs.
New research shows:
- 442 deals available at 95% loan-to-value (LTV)
- 845 deals available at 90% LTV
- A total of 6,870 mortgage products are now on the market.
Why This Matters to First-Time Buyers
- More Mortgage Choices
As a first-time buyer, having more mortgage products makes finding a deal that suits your budget and long-term goals easier. From low fixed-rate deals to products with smaller deposit requirements, lenders are offering more flexible solutions.
- Lower Interest Rates
Some lenders now offer mortgage rates under 4%, making monthly repayments more manageable and homeownership more achievable.
- Easier Affordability Tests
Changes to affordability checks mean you may qualify for a larger loan than before, increasing your purchasing power and giving you access to better properties.
Tip: Now is the time to explore your mortgage options and get pre-approved, especially if you plan to buy in the next few months.
What It Means for Landlords
- Better Buy-to-Let Options
Lenders have expanded their offerings to include more competitive buy-to-let mortgage products, making it easier for landlords to finance new investments.
- Potential for Higher Yields
With lower interest rates and growing tenant demand, landlords can potentially increase their rental income while reducing mortgage costs.
- Easier Portfolio Growth
If you’re looking to grow your property portfolio, this mortgage environment offers an ideal time to refinance or secure funding for additional properties.
Tip: Landlords should review their current mortgage terms and speak to a mortgage adviser about refinancing opportunities.
What’s Driving the Increase in Mortgage Products?
- Market Competition: Lenders actively compete for new business, leading to broader product ranges.
- Economic Stability: As interest rates are expected to stabilise or drop slightly, lenders feel more confident about introducing long-term fixed-rate deals.
- Regulatory Adjustments: Changes in lending criteria and government-backed schemes encourage wider access to mortgage funding.
What Should You Do Next?
Whether you’re a first-time buyer or a landlord, the current mortgage market presents valuable opportunities. With more options available, now is a great time to act.
We offer expert advice tailored to your goals at Christopher Anthony Property Experts.
Contact us today to speak with one of our property experts. We’ll help you confidently navigate the mortgage landscape—whether you’re buying your first home or expanding your property portfolio.
