More mortgages now live
The total number of live mortgage schemes listed on its market leading sourcing system now stand at 3,534 (as of 4th January 2010), up 6% from 3,337 on 1st December 2009.
The number of mortgage schemes available to UK mortgage intermediaries is now at its highest level since the same time last year and represent a 47% increase in product availability over the past six months.
Trackers saw the biggest increase last month (38%), climbing for the fourth month in a row to represent 1,300 of all available products.
Fixed rate products remain the dominant product type as we start the New Year with current figures listing 2,151 available products following a 5% increase in the past month.
Variable rate products also increased last month (3%), representing the first increase in four months. Current figures now stand at 354, up from 343 on 1st December 2009.
Mark Lofthouse, CEO of Mortgage Brain, commented, “Mortgage product numbers are at their highest level for 11 months and the consistent increase over the past six months is very encouraging and could represent a more solid indication of market stability and improvement.
“Overall product availability has increased yet again, trackers are up again, fixed rate products are up again, and after three consecutive drops, variable rate products are back on their way up. It’s a great way to start the New Year.”