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Financial Services > Mortgages > Mortgages News
Mortgage price war could drive down cost
Wed, 24 Feb 2010
According to data from financial information service Moneyfacts, there are now 2,003 mortgage loans to choose from, the most on the market since 2008. The price war between mortgage lenders could cut down the cost of mortgages . In the past few days, HSBC, First Direct, and other building societies have cut the cost of their home loans .

The Council of Mortgage Lenders reported that the home loans hit a ten-year low during January, so the price-war may reinvigorate some action in the mortgage market . New mortgage products have included fixed-rate mortgages and tracker mortgages, although the best deals remain reserved for borrowers with a higher level of equity in their homes.

The fate of the housing market during 2010 remains to be seen, with some experts forecasting a further dip in house prices again later this year.

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