Mortgage options down 50% as of 2010

The Examiner carried a story about the number of options available to borrowers in the present market and the fact that they have dropped over 50% since 2008.

In 2008 there were 380 different mortgages available on the market across all banks and all rate suites, today, that number rests at 179 meaning that at least 50% of the choice is gone. That is also reflective of the fact that so many lenders have exited the market. Below is a list of several who are no longer lending here.

Halifax Fresh Mortgages Springboard Stepstone Nua Homeloans First Active GE Money Leeds

Many of these providers were in the non-prime/specialist/sub-prime category, however, a drop of 50% in choice doesn’t mean that there are no options left. Certainly tracker mortgages are a thing of the past as are Standard Variables (referring to new business for these products, existing clients will keep their existing product).

The other factor that makes this less spectacular is that many lenders replicate offerings, so when each lender pulled out, their two year fixed …

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Marian Finucane Show: Interest Rate Guide

Last Saturday Charlie Weston (award winning Personal Finance editor with the Irish Independent) Karl Deeter (of Irish Mortgage Brokers) were on the Marian Finucane show on RTE 1 (audio here), during the show Karl mentioned a file with mortgage rate information on it that you could download. The file was a mid-sized pdf but they don’t embed easily in the existing site for the show so we are posting it on our site and RTE Will link to it instead.

The file in question is here or you can click on the image to the left, if you have any questions feel free to call us at the number which is at the top of every page on this site.

Thanks for listening and for your enquiries, we were delighted to have a representative from our firm on such a big show, we are huge fans and we hope our opinions …

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