The lenders in the UK loan market are changing their home loan offers quite frequently as they assess the changes in the money markets. London (shakespearefinance) March 19, 2009: The mortgage brokers in the market say that borrowers should act fast in the current instable environment because lenders are quickly changing their home loan deals and pulling out of the cheap loan products. The figures show that 41 lenders have cut their maximum loan since last December. The average level of loan-to-value in January was 88% as very few lenders are now willing to offer near to 100% LTV. David Hollingworth from London and Country Mortgages said: “They (lenders) are being much more careful about who they are lending to and how much business they take.” Hollingworth further said that lenders were pulling from competitive deals at short notice because of the fears of having ‘all their eggs in one basket.’ It is estimated that more than one million fixed-rate deals are likely to expire in 2009. The lenders who are already citing lack of access to money markets for failing to issue more mortgages are unlikely to fulfil the market demand for re-mortgages that will come up in the current year. According to a survey by Mortgage Monitor, 5% of those on fixed rates say that they have no clue how they will meet repayments once their current deal expires. Since the credit crisis began last year, not only the secured loans and mortgages have become costlier and hard to obtain but the loan availability has also reduced significantly.