More than 3,000 mortgages on offer for first time in 15 months

The number of different mortgage products on the market has exceeded the 3,000 mark for the first time in 15 months, the Telegraph reports.

Figures from Moneysupermarket.com have shown that there are currently 3,100 different mortgage deals on the market, which is 42% higher than the number available when the market fell to its low point last July.

Yet despite the positive figures, there`s still a lot less choice than before the credit crunch - there were 28,413 different mortgage deals on the market in June 2007.

A spokesperson for debt management company Gregory Pennington commented: "It is encouraging to see that the number of mortgages on offer has reached its highest level for 15 months.

"However, a mortgage debt is a serious matter and people should always think very carefully before they take it on.

"Borrowers securing debt against a property should be certain that they`ll be able to afford their repayments before taking on the debt."

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Gregory Pennington offer debt advice and debt management plans, as well as a range of other debt solutions. If you are worried about debt, contact one of our expert debt advisers now.