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CORONAVIRUS UPDATE

See the latest Coronavirus statistics from across the world on our world map SEE MAP UK Confirmed cases: 277,985 | UK Deaths: 39,369 SEE MAP Italy Confirmed cases: 233,515 | Italy Deaths: 33,530 | Italy Recovered: 160,092 SEE MAP Spain Confirmed cases: 239,932 | Spain Deaths: 27,127 | Spain Recovered: 150,376 SEE MAP See the latest Coronavirus statistics from across the world on our world map SEE MAP UK Confirmed cases: 277,985 | UK Deaths: 39,369 SEE MAP Italy Confirmed cases: 233,515 | Italy Deaths: 33,530 | Italy Recovered: 160,092 SEE MAP Spain Confirmed cases: 239,932 | Spain Deaths: 27,127 | Spain Recovered: 150,376 SEE MAP

TODAY'S OTHER NEWS

Mortgage products drop by a third

Almost a third of all mortgage deals, including buy-to-let products, have been pulled from the market in response to the coronavirus crisis.

Last week there were 10,097 products available,  4,577, or 31.2%, lower than the nine week average to 16th March, according to Mortgage Brain. 

The mortgage technology expert says the drop comes as a result of lenders reducing, amending or removing their products.

Mark Lofthouse, CEO at Mortgage Brain, said: “The level of changes we’re seeing in the market due to the impact of Covid 19 is unparalleled.”

The property market has been thrown into chaos in recent weeks as the government urged people not to move home as the pandemic continues to spread.

Eleanor Williams, finance expert at Moneyfacts, commented: “It is likely that competition between mortgage lenders for new mortgage business may take a step back during the foreseeable future, which we generally would expect to have an adverse effect on mortgage rates.”

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