1,600 Mortgage Deals Launched in January

According to the statistics available from online mortgage system, Mortgage Brain, the number of residential mortgage deals currently stands at almost 10,000.

In January 2011 the number of mortgages increased by 1,600 as many lenders introduced new products.

This news comes at odds with the data evidence showing that UK banks have tightened lending criteria and reduced lending.

Last year, the overall number of new mortgage deals amounted to 5,287.

In the last month alone, however, banks launched 820 new tracker mortgages, bringing their overall number to 2,652.

As for fixed-rate mortgage deals, they increased by 17% in the 30 days to February, and now stand at 5,982.

The only type of mortgage products that declined rather than increased is variable deals. They now stand at 1,110 because 11 mortgages were withdrawn by banks last month.

If you need more detailed information about home loans available from UK banks and building societies, you should try going to online comparison sources or visiting lenders in person.