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Decisions Decisions

Daily life is full of decisions isn’t it? Which Milk Tray chocolate do you take? Jam or cream first on your scone?  Milk or hot water first in your tea?  All important. And all can add or remove value to our day; but none of them have a lasting effect.

There are other decisions of course that have a longer-term effect. Dare we give the example of Brexit or Remain?  But perhaps even more immediate, the decision on where to look, and which mortgage to select is a much longer-term decision that could have a prolonged effect on your every-day life if you make a poor choice.  


It is said that during the last 12 months, the number of mortgage products available to those looking reached 5000.  That’s 5000 mortgage deals available to those looking to borrow and a plethora of options to compare and choose from..  

It is thanks to this increased level of competition that smaller lenders are deciding to exit the mortgage market. Once such lender is Tesco who is now looking to sell its ledger.  And they’re the sixth such lender to do so this year.

Why are these smaller lenders looking to come away from the market? Because increased competition goes hand in hand with reduced rates for borrowers.  Recently the rates for two and five-year fixed rate mortgages have fallen, some lenders are increasing the amount they’ll lend vs income and the market just isn’t attractive to smaller lenders who then struggle to compete.

Of course, this is good news for borrowers - and so we come full-circle.  More products, more choice and more difficult decisions.

In these instances, we always recommend asking the advice and support of a whole-of-market mortgage broker, just like us. We have an in-depth knowledge of the market and access to all of the very best deals so that we can quickly establish which of the 5000 (or so) products available is the best option for you.

There’s only one decision you need to make when you’re looking for your first mortgage or are approaching the end of your current mortgage deal – and that’s to call Mortgage Search Go on 0844 69 333 60!  Alternatively contact us via this link. We’re always happy to help.


Your property may be at risk if you don’t keep up repayments on your mortgage.