The choice of mortgage products for borrowers dropped by almost half during September, new figures show.
Thousands of mortgages were withdrawn and priced higher last month after the Bank of England increased interest rates and wholesale funding costs for lenders rose amid concerns about the economic impact of Chancellor Kwasi Kwarteng’s mini-Budget.
Mortgage software platform Twenty7Tec has revealed the extent of withdrawals and the choice it leaves potential buyers when looking to get a mortgage to purchase a property.
Its data, based on the mortgage products on its system, shows there were 13,634 home loans available at the start of September and the figure dropped to 7,356 by the end of the month.
That is a 46% drop and echoes figures from comparison website Moneyfacts that show a reduction in product availability, while financial data company Defaqto has said its records show nearly 3000 mortgage products have been withdrawn.
It is unclear from the Twenty7Tec data what the breakdown is between mortgages for home purchase, remortgaging and buy-to-let.
Nathan Reilly, director of customer relationships at Twenty7Tec, said: “The drop in product availability is likely to be a short-term measure as lenders reassess the market, economic situation and any operational challenges that could arise if they return before their peers.
“Positively, we're already seen that a number of lenders have completed this assessment and are lining up gradual returns. This is likely to result in an increase in products next week.”
See the full list of the number of available mortgage products for each day going back to October 2021 below:
|
Date |
Total mortgage products on Twenty7Tec's systems |
|
Oct 1, 2021 |
15196 |
|
Oct 4, 2021 |
15204 |
|
Oct 5, 2021 |
15232 |
|
Oct 6, 2021 |
15232 |
|
Oct 7, 2021 |
15397 |
|
Oct 8, 2021 |
15540 |
|
Oct 11, 2021 |
15540 |
|
Oct 12, 2021 |
15517 |
|
Oct 13, 2021 |
15668 |
|
Oct 14, 2021 |
15688 |
|
Oct 15, 2021 |
16017 |
|
Oct 18, 2021 |
15931 |
|
Oct 19, 2021 |
15892 |
|
Oct 20, 2021 |
15980 |
|
Oct 21, 2021 |
16011 |
|
Oct 22, 2021 |
16029 |
|
Oct 25, 2021 |
16230 |
|
Oct 26, 2021 |
16266 |
|
Oct 27, 2021 |
16216 |
|
Oct 28, 2021 |
16173 |
|
Oct 29, 2021 |
16127 |
|
Nov 1, 2021 |
16142 |
|
Nov 2, 2021 |
16186 |
|
Nov 3, 2021 |
16170 |
|
Nov 4, 2021 |
16054 |
|
Nov 5, 2021 |
16044 |
|
Nov 8, 2021 |
16105 |
|
Nov 9, 2021 |
16077 |
|
Nov 10, 2021 |
16084 |
|
Nov 11, 2021 |
16252 |
|
Nov 12, 2021 |
16270 |
|
Nov 15, 2021 |
16272 |
|
Nov 16, 2021 |
16272 |
|
Nov 17, 2021 |
16279 |
|
Nov 18, 2021 |
16304 |
|
Nov 19, 2021 |
16421 |
|
Nov 22, 2021 |
16244 |
|
Nov 23, 2021 |
16252 |
|
Nov 24, 2021 |
16312 |
|
Nov 25, 2021 |
16410 |
|
Nov 26, 2021 |
16413 |
|
Nov 29, 2021 |
16331 |
|
Nov 30, 2021 |
16299 |
|
Dec 1, 2021 |
16401 |
|
Dec 2, 2021 |
16532 |
|
Dec 3, 2021 |
16563 |
|
Dec 6, 2021 |
16766 |
|
Dec 7, 2021 |
16772 |
|
Dec 8, 2021 |
16808 |
|
Dec 9, 2021 |
16825 |
|
Dec 10, 2021 |
16979 |
|
Dec 13, 2021 |
16809 |
|
Dec 14, 2021 |
16814 |
|
Dec 15, 2021 |
16857 |
|
Dec 16, 2021 |
16858 |
|
Dec 17, 2021 |
16840 |
|
Dec 20, 2021 |
16840 |
|
Dec 21, 2021 |
16945 |
|
Dec 22, 2021 |
16926 |
|
Dec 23, 2021 |
16922 |
|
Dec 24, 2021 |
16922 |
|
Dec 27, 2021 |
16922 |
|
Dec 28, 2021 |
16922 |
|
Dec 29, 2021 |
16920 |
|
Dec 30, 2021 |
16923 |
|
Dec 31, 2021 |
16923 |
|
Jan 3, 2022 |
16923 |
|
Jan 4, 2022 |
16931 |
|
Jan 5, 2022 |
16933 |
|
Jan 6, 2022 |
16936 |
|
Jan 7, 2022 |
16940 |
|
Jan 10, 2022 |
16912 |
|
Jan 11, 2022 |
16919 |
|
Jan 12, 2022 |
17111 |
|
Jan 13, 2022 |
17160 |
|
Jan 14, 2022 |
17272 |
|
Jan 17, 2022 |
17179 |
|
Jan 18, 2022 |
17488 |
|
Jan 19, 2022 |
17384 |
|
Jan 20, 2022 |
17362 |
|
Jan 21, 2022 |
17321 |
|
Jan 24, 2022 |
17329 |
|
Jan 25, 2022 |
17413 |
|
Jan 26, 2022 |
17409 |
|
Jan 27, 2022 |
17380 |
|
Jan 28, 2022 |
17384 |
|
Jan 31, 2022 |
17392 |
|
Feb 1, 2022 |
17323 |
|
Feb 2, 2022 |
17372 |
|
Feb 3, 2022 |
17321 |
|
Feb 4, 2022 |
17293 |
|
Feb 7, 2022 |
17289 |
|
Feb 8, 2022 |
17373 |
|
Feb 9, 2022 |
17402 |
|
Feb 10, 2022 |
17393 |
|
Feb 11, 2022 |
17236 |
|
Feb 14, 2022 |
17071 |
|
Feb 15, 2022 |
17065 |
|
Feb 16, 2022 |
17041 |
|
Feb 17, 2022 |
16878 |
|
Feb 18, 2022 |
16897 |
|
Feb 21, 2022 |
16906 |
|
Feb 22, 2022 |
16980 |
|
Feb 23, 2022 |
17637 |
|
Feb 24, 2022 |
17789 |
|
Feb 25, 2022 |
17359 |
|
Feb 28, 2022 |
17518 |
|
Mar 1, 2022 |
17476 |
|
Mar 2, 2022 |
17471 |
|
Mar 3, 2022 |
17500 |
|
Mar 4, 2022 |
17447 |
|
Mar 7, 2022 |
18049 |
|
Mar 8, 2022 |
17955 |
|
Mar 9, 2022 |
17955 |
|
Mar 10, 2022 |
18198 |
|
Mar 11, 2022 |
18253 |
|
Mar 14, 2022 |
18056 |
|
Mar 15, 2022 |
18119 |
|
Mar 16, 2022 |
18063 |
|
Mar 17, 2022 |
18194 |
|
Mar 18, 2022 |
18144 |
|
Mar 21, 2022 |
18134 |
|
Mar 22, 2022 |
18080 |
|
Mar 23, 2022 |
18191 |
|
Mar 24, 2022 |
18277 |
|
Mar 25, 2022 |
18191 |
|
Mar 28, 2022 |
18193 |
|
Mar 29, 2022 |
18355 |
|
Mar 30, 2022 |
18357 |
|
Mar 31, 2022 |
18358 |
|
Apr 1, 2022 |
18194 |
|
Apr 4, 2022 |
18087 |
|
Apr 5, 2022 |
17977 |
|
Apr 6, 2022 |
18203 |
|
Apr 7, 2022 |
18390 |
|
Apr 8, 2022 |
18448 |
|
Apr 11, 2022 |
18383 |
|
Apr 12, 2022 |
18521 |
|
Apr 13, 2022 |
18542 |
|
Apr 14, 2022 |
18529 |
|
Apr 15, 2022 |
18527 |
|
Apr 18, 2022 |
18527 |
|
Apr 19, 2022 |
18141 |
|
Apr 20, 2022 |
18344 |
|
Apr 21, 2022 |
18224 |
|
Apr 22, 2022 |
18106 |
|
Apr 25, 2022 |
18107 |
|
Apr 26, 2022 |
18192 |
|
Apr 27, 2022 |
18235 |
|
Apr 28, 2022 |
18236 |
|
Apr 29, 2022 |
18339 |
|
May 2, 2022 |
18346 |
|
May 3, 2022 |
18431 |
|
May 4, 2022 |
18328 |
|
May 5, 2022 |
18290 |
|
May 6, 2022 |
18262 |
|
May 9, 2022 |
18139 |
|
May 10, 2022 |
18109 |
|
May 11, 2022 |
17966 |
|
May 12, 2022 |
17997 |
|
May 13, 2022 |
18046 |
|
May 16, 2022 |
17666 |
|
May 17, 2022 |
17666 |
|
May 18, 2022 |
17659 |
|
May 19, 2022 |
17688 |
|
May 20, 2022 |
17615 |
|
May 23, 2022 |
17652 |
|
May 24, 2022 |
17560 |
|
May 25, 2022 |
17578 |
|
May 26, 2022 |
17627 |
|
May 27, 2022 |
17599 |
|
May 30, 2022 |
17748 |
|
May 31, 2022 |
17647 |
|
Jun 1, 2022 |
17669 |
|
Jun 6, 2022 |
17736 |
|
Jun 7, 2022 |
17925 |
|
Jun 8, 2022 |
17858 |
|
Jun 9, 2022 |
17787 |
|
Jun 10, 2022 |
17615 |
|
Jun 13, 2022 |
17559 |
|
Jun 14, 2022 |
17566 |
|
Jun 15, 2022 |
17465 |
|
Jun 16, 2022 |
17468 |
|
Jun 17, 2022 |
17318 |
|
Jun 20, 2022 |
17280 |
|
Jun 21, 2022 |
17017 |
|
Jun 22, 2022 |
16897 |
|
Jun 23, 2022 |
16924 |
|
Jun 24, 2022 |
16740 |
|
Jun 27, 2022 |
16579 |
|
Jun 28, 2022 |
16649 |
|
Jun 29, 2022 |
16499 |
|
Jun 30, 2022 |
16460 |
|
Jul 1, 2022 |
16293 |
|
Jul 4, 2022 |
16283 |
|
Jul 5, 2022 |
16398 |
|
Jul 6, 2022 |
16422 |
|
Jul 7, 2022 |
16317 |
|
Jul 8, 2022 |
16192 |
|
Jul 11, 2022 |
16182 |
|
Jul 12, 2022 |
16062 |
|
Jul 13, 2022 |
15910 |
|
Jul 14, 2022 |
15901 |
|
Jul 15, 2022 |
15890 |
|
Jul 18, 2022 |
15778 |
|
Jul 19, 2022 |
15768 |
|
Jul 20, 2022 |
15895 |
|
Jul 21, 2022 |
15928 |
|
Jul 22, 2022 |
15819 |
|
Jul 25, 2022 |
15798 |
|
Jul 26, 2022 |
15687 |
|
Jul 27, 2022 |
15364 |
|
Jul 28, 2022 |
15424 |
|
Jul 29, 2022 |
15388 |
|
Aug 1, 2022 |
15388 |
|
Aug 2, 2022 |
15443 |
|
Aug 3, 2022 |
15457 |
|
Aug 4, 2022 |
15489 |
|
Aug 5, 2022 |
15280 |
|
Aug 8, 2022 |
15250 |
|
Aug 9, 2022 |
15078 |
|
Aug 10, 2022 |
15082 |
|
Aug 11, 2022 |
15124 |
|
Aug 12, 2022 |
15105 |
|
Aug 15, 2022 |
15027 |
|
Aug 16, 2022 |
14884 |
|
Aug 17, 2022 |
14691 |
|
Aug 18, 2022 |
14776 |
|
Aug 19, 2022 |
14707 |
|
Aug 22, 2022 |
14716 |
|
Aug 23, 2022 |
14697 |
|
Aug 24, 2022 |
14621 |
|
Aug 25, 2022 |
13811 |
|
Aug 26, 2022 |
13666 |
|
Aug 29, 2022 |
13624 |
|
Aug 30, 2022 |
13725 |
|
Aug 31, 2022 |
13616 |
|
Sep 1, 2022 |
13634 |
|
Sep 2, 2022 |
13639 |
|
Sep 5, 2022 |
13677 |
|
Sep 6, 2022 |
13736 |
|
Sep 7, 2022 |
13686 |
|
Sep 8, 2022 |
13653 |
|
Sep 9, 2022 |
13321 |
|
Sep 12, 2022 |
13384 |
|
Sep 13, 2022 |
13369 |
|
Sep 14, 2022 |
13385 |
|
Sep 15, 2022 |
13421 |
|
Sep 16, 2022 |
13611 |
|
Sep 19, 2022 |
13585 |
|
Sep 20, 2022 |
13578 |
|
Sep 21, 2022 |
13728 |
|
Sep 22, 2022 |
13785 |
|
Sep 23, 2022 |
13811 |
|
Sep 26, 2022 |
13717 |
|
Sep 27, 2022 |
12489 |
|
Sep 28, 2022 |
11182 |
|
Sep 29, 2022 |
8350 |
|
Sep 30, 2022 |
7356 |