Lenders cut mortgage products on offer by more than a third in 12 months

LENDERS have slashed the number of mortgage products on offer in the Irish market by more than a third over the past year.

Figures from the Irish Mortgage Corporation show that since the credit crunch started to take hold on August 1 last year, lenders have scaled back on loan-to-values, increased mortgage margins and tightened underwriting acceptance criteria.

This news comes as a raft of lenders pulls the plug on tracker mortgages.