A recent report has suggested that the whilst most consumers are of the mind that there are very few mortgage products available on the market, the number of mortgages on offer may actually be considerably higher than many people might think.

Whilst there is no doubt that mortgage numbers have plummeted since the onset of the global credit crunch, some officials have claimed that there may still be more mortgages on the market than many people have been led to believe.

A survey was carried out online, and indicated that there has been a lot of hype in the media with regards to there being no mortgages available for many consumers. The report claims that this has led many people to wrongly assume that they would not be able to find any mortgage product that was suitable for their needs, circumstances, and budget.

The results of the survey showed that 10 percent of those polled thought that the only way that they could get a decent mortgage was to raise a deposit of at least 40 percent, and around 18 percent of respondents thought that without a deposit of at least 30 percent they would not be able to find a decent mortgage deal.

There were also mixed responses on thoughts about how much could be borrowed in comparison to the borrower’s income, and those that were most pessimistic were people in the London area.

The report showed that in actual fact the average amount of deposit required for a decent mortgage deal is now around 20 percent, and there are even some reasonable mortgage deals on offer with just a 10 percent deposit in some cases.

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