Moneyfacts: Britain has a 'mortgage postcode lottery'
www.moneynews.co.uk > Mortgages > Moneyfacts: Britain has a 'mortgage postcode lottery'
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Money News |
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Moneyfacts: Britain has a 'mortgage postcode lottery'
Wed 10th Sep 2008
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The finance information website said that borrowers in the Midlands have the most access to a higher number of mortgage products than people in any other area.
People in Leicestershire were found to have the widest choice, as there are more, smaller building societies offering deals for people in the nearby areas.
Northern Ireland had the most restricted choice, followed by Scotland.
A spokesperson said that a number of small building societies are working on getting more savings products available nationally in an effort to secure more funding.
Finance website Fool.co.uk recently found that 60 per cent loan to value is the "magic number" to access the most products available on the market.
According to its research, only 74 mortgage products are available for those needing to borrow more than 95 per cent of the value of their home.
Click here for more mortgage news.
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