New
research by the Council of Mortgage Lenders (CML) has revealed that
170,000 offset mortgages worth £23.9 billion, or 7% of all new lending,
were taken out last year. They grew 49% by value in the year to
end-March, compared with the previous year, while non-offset mortgages
grew just 15%. "Mortgage lenders are constantly developing new products
to meet the needs of borrowers, and the fact there are now 250 offset
products available in the market illustrates this," said CML
statistician Phoebe Zhang said. "Continued innovation by lenders will
help to increase consumer awareness of offset products and expand the
market potential for offsets in the future."
research by the Council of Mortgage Lenders (CML) has revealed that
170,000 offset mortgages worth £23.9 billion, or 7% of all new lending,
were taken out last year. They grew 49% by value in the year to
end-March, compared with the previous year, while non-offset mortgages
grew just 15%. "Mortgage lenders are constantly developing new products
to meet the needs of borrowers, and the fact there are now 250 offset
products available in the market illustrates this," said CML
statistician Phoebe Zhang said. "Continued innovation by lenders will
help to increase consumer awareness of offset products and expand the
market potential for offsets in the future."
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