Mortgage market steadies as product availability rises and rate volatility eases

13 articles · Updated · Mortgage Professional · May 11

In April, UK mortgage deals increased by 583, average shelf-life doubled to 16 days, and two- and five-year fixed rates edged down to 5.78% and 5.68%.
But choice remains about 10% below early March levels, with higher loan-to-value products down 14%, leaving first-time buyers and borrowers with 5% deposits facing rates above 6%.
Moneyfacts said lender caution followed interest-rate uncertainty and Middle East tensions, while affordability strains, high loan-to-income borrowing and housing costs continue to weigh on the market.

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