The number of mortgage products available in Britain fell by more than 11% between Monday and Tuesday, as the intensifying financial crisis prompted dozens of lenders to withdraw their most competitive rates, giving brokers and customers just a few hours' notice.

By yesterday morning, 3,469 mortgage products were on offer, compared to 3,914 the day before, according to the comparison service Moneyfacts.co.uk. Since the start of the credit crunch, mortgages on offer to home buyers have fallen by 60%, while buy-to-let investors have 85% fewer loan packages available to them.

The Independent