Good value mortgage products still to be had, says expert

Good mortgage deals are still available despite reports of lenders withdrawing products, it has been claimed.

Last month, research from financial website, Moneyfacts found that the number of deals on the UK market had been cut by 40 per cent.

However, savvy borrowers can still find good deals on the market, particularly for homeowners looking to re-mortgage as the fixed-rate period of their current deal comes to an end, according to Ray Boulger of mortgage brokers John Charcol.

He said: "Despite several lenders reducing the number of mortgages in their product range over the last few months there is still a good choice available for most borrowers on attractive terms."

Mr Boulger, did, though, concede that the cut in products is likely to make things harder for those seeking sub-prime mortgages.

"In the sub-prime market there has been further criteria tightening and rate increases, although not on the same scale as in the previous month.

"It is still true that the heavier the adverse credit a borrower has, the more they have been hit."