Number of mortgage products increase again
This is according to figures released today from Mortgage Brain’s Monthly Product Analysis.
A 4% increase in product availability during June has taken the total number of live mortgage products listed on its sourcing system to their highest level since 28th April, 2008.
Current figures, as of 4th July, 2011, now list 12,525 mortgage products – up from 11,996 on 30th May 2011.
Positive movement was seen across the board for all main product types with variable rate products witnessing the biggest rise (21%) in product numbers to now represent 1,500 of all available mortgages.
A 6% increase (180 new products) during June saw the number of trackers climb for the third month in a row with current figures (as of 4th July, 2011) now standing at 3,237.
A fourth consecutive monthly increase (1%) has seen the total number of fixed rate products rise to their highest level since August 2008 and now represent 7,788 of all available mortgage products.
Over 4,000 new fixed rate products have been introduced to the UK intermediary mortgage market over the past 12 months further cementing them as the market’s most popular and dominant product type.
Mark Lofthouse, CEO of Mortgage Brain, commented, “Further encouraging data has been extracted from this month’s product analysis, which is great news for brokers and the mortgage market as a whole.
“Around 4,500 new products have become available during the past seven months alone and healthy increases across the board has seen the number of fixed, variable and trackers climb to their highest level since the summer of 2008.”