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Struggling mortgage holders `should seek advice` Remortgage enquiries `rise in June` Mortgage approvals `up in June` UK mortgage market remains weak, CML says Consumers `should avoid lying on mortgage applications` BoE releases Trends in Lending report Brits `prioritising debt repayment` "Sensible lending" needs to be restored for home buying Many households `to miss mortgage payments` Homeowners `increasingly paying off mortgage debt` Booklet produced for those facing mortgage repayment problems Local authority defends decision to offer 100% mortgages Mortgage lending levels `still low` CML welcomes campaign on repossessions Consumers `increasingly offsetting savings against mortgages` Banks `should be encouraged to provide more mortgages` Younger and richer people `benefiting more from mortgage reductions` Bank of England cuts base rate Negative equity `concerning UK mortgage holders` Interest rate cuts `were not anticipated by consumers`

Moneyfacts highlights shelf life of mortgage deals

29/05/2008

Comparison site Moneyfacts.co.uk has highlighted the fall in the shelf life of mortgage deals across the UK.

Anyone looking for a secured loan may be interested by news that, over the course of a year, the shelf life of a mortgage has decreased from 30 days to 11.

"I believe banks and building societies are being forced into these measures due to current market uncertainty," said Darren Cook, head of press at Moneyfacts.co.uk.

"As a consequence, they are reducing the level of funds on offer, even though demand has not reduced."

It was also noted that the total number of available mortgage products has decreased to 3,814, from a previous total of more than 15,000.

In related economic news, data released by the Bank of England currently shows that interest rates are set at five per cent; at three per cent, inflation is currently over the Bank`s target of two per cent.

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