Mortgage schemes rise again

Nia Williams

December 3, 2009

The total number of live mortgage schemes listed on its market leading sourcing system increased by 4% in the past month. Current figures (as of 1st December 2009) list 3,337 mortgage products, up from 3,222 on 2nd November 2009 and now stand at their highest since January 2009.

The continued increase in product availability over the past five months has helped to shape a positive outlook on the longer term comparisons where the current figures now represent a 16% increase compared to this time six months ago.

Trackers continue their current form of witnessing the biggest increase in product availability for the third month in a row. The latest figures list 942 live Trackers, up 15% in the past month.

Fixed rate products held steady during November seeing a marginal rise of nine products to bring the total number of live Fixed rate products to 2,052. Variable rate products continue their downward slide, however, dropping for the third month in a row to stand at 343 – down 6% from November.

Mark Lofthouse, CEO of Mortgage Brain, commented, “Total mortgage schemes are at their highest for 11 months, which considering the turbulent year we’ve had is fantastic news and a great way to draw in the end of 2009.

“Everyone in the mortgage industry is well aware that there is still a long way to go on the road to recovery go but it’s nice to finish the year on a high and it will be even better if 2010 starts in the same way.”

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