The number of mortgages available from UK lenders has more than doubled in the last two years, but other factors continue to keep buyers out of the housing market.

Research by Moneyfacts.co.uk shows choice falling to an all-time low two years ago, when only 1,097 residential mortgage products were available.

Since then, the number of home loans on offer has more than doubled, to 2,447, with borrowers holding a 20 per cent deposit seeing the number of deals available soar from 97 to 390.

Currently, the largest range of products is to be found in the 75 per cent loan-to-value (LTV) tier, where 851 mortgages are available, up from 422 two years ago.

At the same time, the number of loans at 60 per cent LTV has fallen from 261 to 187, the financial website reports.

However, Moneyfacts claims that despite the overall rise in mortgage availability, access remains restricted for many.

Spokesperson, Michelle Slade, explains: ‘Borrower affordability remains the key factor in lending decisions and lenders remain strict over which borrowers they will accept.’

Ms Slade also warns that rising rates and the implementation of the Financial Services Authority’s Mortgage Market Review are likely to restrict affordability calculations further.

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