Third of mortgage deals disappear from the market

Nearly a third of all mortgage deals have been pulled from the market in just three weeks following the impact on the industry by the coronavirus outbreak. There are currently some 3,654 residential mortgage deals on offer from banks and building societies in the UK, according to Moneyfacts – 1,585 fewer than the 5,239 deals available on 11 March, a drop of 30%. Mortgage lenders including Nationwide and Santander have blocked loans to buyers with deposits smaller than three quarters of the property's value, while NatWest and Halifax will now only lend up to 80% of a property's value to new customers.

The Daily Telegraph (31/03/2020)   Daily Mail (31/03/2020)