Rise in product numbers continues
March’s TrigoldCrystal Product Index shows an overall month-on-month increase in mortgage products of 10% from 4,535 to 5,047. The greatest rise was among intermediary products with an 11% rise compared to an 8% rise in the number of direct products available.
Further to the rise in product numbers the figures also show that users of TrigoldCrystal’s Prospector, who count for over 70% of all mortgage professionals, conducted nearly 10,000 more sources in February than they did in January running 543,215 sources compared to 533,385.
During the same period the average monthly mortgage payment increased across the whole the market from £724.90 to £750.76; a rise of £25.86.
David Aylmer, business development and marketing director at TrigoldCrystal, commented: “There are currently 3,510 intermediary products on the market compared to 1,538 direct showing that when it comes to choice intermediaries still have the edge. And even though they must compete against the dual pricing offered by many lenders, the fact that overall there are more products available is good news for brokers and consumers alike.”
He continued: “Even though we are seeing mortgage payments rise, the fact that this is based on larger advances does show a greater degree of confidence in the market. Add to this the fact that we saw nearly 10,000 more sources in February than in January and I think we have reason to be cautiously optimistic for business levels in the second quarter.”
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