Cat mortgages 'fall from favour'

17-Apr-2007

In news which may be of interest to first time home buyers, Cat standard mortgages have fallen from favour, an expert has claimed.

According to Moneyfacts.co.uk, the Cat standard mortgage has become an out-of-date product which was never really popular even around its time of release in 1999, which may interest first time home buyers looking to choose the best mortgage deal.

Indeed, out of the Cat range, there now remains one product that fits the standard.

"Today its guidelines are outdated," said Julia Harris, mortgage analyst at Moneyfacts.co.uk.

"Perhaps the standard should be revamped, bringing it up to date with current market trends," she added.

Moneyfacts.co.uk also suggests that a number of other mortgages have now lost their shine, including mortgages with extended tie-ins and capped-rate products.

To find out about those mortgages specifically aimed at first time buyers, see our best buys for first time buyers table.

The company offers comparisons on a number of products, including mortgages, credit cards and annuities.

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