Mortgage lenders 'are still offering competitive deals'
Published On 20 April 2008
Despite the fact that a number of mortgages have been pulled from the market in recent months, there are still some good deals available, an industry expert has said.Neil Johnson, PR and policy manager at the Building Societies Association (BSA), explained that the mortgage market remained "very competitive" and this meant that lenders were being forced to continue to offer attractive deals.
He commented after it emerged that HSBC was set to match the interest rate of any borrower coming off a fixed-rate mortgage deal.
"The HSBC offer is a very competitive one but so are many of the products offered by building societies," Mr Johnson said.
"It's what you would expect in the competitive mortgage market that we've got, where providers actually offer different products that will appeal to different customers.
"Whilst the range of mortgages has decreased over the last twelve months, customers still have a very wide choice and it is still a very competitive market."
Recent figures from the Council of Mortgage Lenders (CML) showed that lending declined by 17 per cent in March when compared to the same month in 2007.
