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Consumer choice shrinks as mortgage deals vanish

The number of mortgage deals available to consumers has reduced to only 0.1% of its pre-credit crunch level.

In July 2007, there were 15,599 different mortgage deals available across the market, but since the financial crisis struck, that number has reduced to just 1,542.

The average size of deposits has also shot up to around 22% on average, meaning that for customers looking for a mortgage with an LTV of 10%, the choice is limited to just 113 mortgages.

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