Product numbers and ESIS volumes continued to increase over the past week, according to Mortgage Brain.
There have now been four straight weeks of increases in the number of ESIS produced from Mortgage Brain’s sourcing systems, with last week seeing a rise of 9.4%.
Product numbers were also up registering a 3% growth in the number available to 8,450 – this represents a 13.8% increase from the lowest point in the week ending 12 April.
Mark Lofthouse (pictured), CEO at Mortgage Brain, said: “The data suggests that the mortgage market has now turned the corner and is slowly but surely recovering from the shock of the pandemic, with increasing activity and product choice. It remains very early days however, with further progress likely to be gradual.
“Nonetheless, the make-up of the business we are seeing is striking. The last week has seen a substantial rise in business involving homemovers and first-time buyers rather than remortgagors, alongside an increase in higher LTV lending.
“The message that the housing market is once again open for business is starting to get through to those looking to move up or down the ladder.
“With the significant changes in product numbers and criteria since the onset of the pandemic, the expertise and insight offered by intermediaries has never been more vital in helping those buyers find the right mortgage product for their circumstances.”