Research shows increases in mortgage products

In the last 12 months, the number of mortgages available to borrowers has grown significantly.

MoneyFacts observed that if a borrower has a 20 per cent deposit, there were 153 mortgage deals available in December 2009.

In contrast, on Monday (November 29th) there were 384 deals, an increase of 151 per cent.

The average two, three and five-year fixed-rates are all standing at the lowest level seen since MoneyFacts' records began in 1988.

According to Michelle Slade, spokesperson for the website, many borrowers have reverted to their lenders? standard variable rate, with rates as low as 2.5 per cent.

"While average fixed rates may be at an all time low, they are still uncompetitive in comparison," she explained.

"A rise in Bank base rate still appears elusive and borrowers are opting to make the most of low mortgage repayments while they can."

Earlier this week, Clydesdale Bank was named "Best Mortgage Lender in Scotland" at the prestigious Your Mortgage Awards.

Clydesdale Bank has won the title of 'Best Mortgage Lender in Scotland' every year since the category was introduced in 2004.