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Mortgage lenders 'keen to offer more products'
A number of lenders which deal in mortgages are currently keen to offer more products, an expert has claimed.
Ben Wilkie, editor of What Mortgage, said that the number of loans available to consumers has been rising for most of the year, as companies recognise such activity attracts borrowers.
He added that a specific rise has been seen in variable rate deals due to demand from consumers.
"People have got used to the base rate and interest rates being so low and because variable rates are cheaper than fixed, that is all people are going for," he explained.
Mr Wilkie also suggested that people generally believe rates will remain low for a couple of years, which means it is more useful for them to take up a variable rather than fixed-rate deal.
Recent figures from the Council of Mortgage Lenders revealed that first-time buyers made up the lowest proportion of house purchase loans in the UK during June since September 2007.