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5700 Mortgages Available this month, Down 2026

March 26th, 2008 by Guy

UK Mortgage Lenders have withdrawn over 2,000 mortgages over the last month, says eMoneyfacts.co.uk.Denise Harvey, mortgage analyst at eMoneyfacts.co.uk, says small building societies that had escaped much of the crisis are now being affected with full  withdrawals of complete product ranges.

She says: “It seems that there is no stopping it. Over the last two weeks, lenders have been even more ruthless in withdrawing products from the market and/or tightening their criteria.

In the last month there were 7726 mortgage products avalable to residential and Buy to let customers, now it has reduced to 5700 a drop of 2026 products in one month

Many lenders were withdrawing products with little or no notice. In fact in one day alone 19 lenders with drew or changed lending criteria on their products.

These figures show there is less money available to would be borrowers and that no one has avoided thecredit crunch.

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