Are mortgages becoming more available? Asks Mortgage Advisers, London Mortgage Advice Thursday, 9th September 2010

According to figures from Moneyfacts,
the cost of mortgages is continuing to fall and they are becoming more accessible to some borrowers.

Availability has dropped for those offering 40%, but data from September shows that the number of home loans available with a 20% deposit has risen.

However, this is contrary to the trend seen in recent months which has seen the best rates offered to those able to pay the largest deposits.

Despite this the numbers of people taking up new loans is moderate.

The number of mortgages available to people offering a deposit of 10% or less remained small, Moneyfacts, a financial information service, said.

Being very different to the situation seen during the housing boom earlier in the decade, this has ruled some potential first-time buyers out of entering the property market.

However, , compared with 326 in the previous month and 166 at the start of the year, those able to raise a deposit of 20%, the choice rose sharply to 352 mortgage products in September.