Mortgage deals around for less than two weeks
The time that new mortgage deals are available for has dropped to just 11 days from around 30 days last year, according to a study conducted by moneyfacts.co.uk. Lenders are pulling their best rates 30% faster than this time last year with some disappearing within just six days. Speaking on its findings, Darren Cook, Head of Press at Moneyfacts.co.uk said: "Lenders with products available are experiencing unprecedented levels of demand, which impinge on their back room staff's ability to cope and on the company's capacity to provide a good level of service. To avoid this, lenders are choosing to withdraw their products quicker than before in order to clear their demand bottlenecks."
01 June 2008