25% increase in live mortgage schemes: Mortgage Brain

Published on

Over 1,500 mortgage schemes were added during August – the largest monthly increase in over 20 months, according to the latest Mortgage Brain Monthly Product Analysis.

The total number of live mortgage schemes listed on its sourcing system increased by 25% in the past month, up from 6,081 on 2 August to 7,618 (as of 30 August).

Fixed rate products were responsible for the bulk of new products introduced last month. A 31% increase (1,179 new products) during August brings the total number of fixed rate products available to UK intermediaries to 5,020 – up from 3,841 on 2nd August 2010.

Variable rate products now represent 949 of all available products – their highest in over two years – having witnessed an 85% increase (437 new products) during August.

Trackers however fell for the third month in a row (5%) but still hold their ground as the second most popular product type by representing 1,649 of all products.

350 new core lender products were introduced in August, representing a 17% increase in availability. Broker exclusives fared even better, witnessing a 29.9% increase (1.187 new products) during August 2010.

There was also a 9.7% increase in lender direct products, bringing the total to 1,280.

Mark Lofthouse , CEO of Mortgage Brain, said: “Compared to August 2009 the UK mortgage market has moved ahead leaps and bounds in terms of product availability

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Mortgage brokers bullish on rate cuts

More than half of mortgage brokers (52%) say they expect at least two cuts...

Former Nikko chief warns CGT on homes would punish owners

A leading City figure has warned that imposing capital gains tax (CGT) on primary...

The Swansea renews sponsorship of Swansea RFC for 2025/26

Swansea Building Society has renewed its sponsorship of Swansea RFC for the 2025/26 season,...

HSBC cuts rates across residential and buy-to-let offerings

HSBC UK has announced a wide set of rate reductions across its residential and...

Staple food prices climb as retailers warn of rising costs

Shop price inflation accelerated in August, driven by higher food costs and new government-imposed...

Latest publication

Latest opinions

Bridging the Pond: How large is the US bridging finance market, and compared to the UK?

When we first got started with LendInvest in the UK, post the financial crisis,...

Passing the affordability exam

As teachers and students of various ages have spent August nervously opening exam results...

Investors are changing their approach – and lenders should too

The buy-to-let market never stands still, but the pace of change in recent years...

Leasehold fees, specialists and the need to shop around

Leasehold properties account for around 20% of all dwellings in the UK, and while...

Other news

Mortgage brokers bullish on rate cuts

More than half of mortgage brokers (52%) say they expect at least two cuts...

Former Nikko chief warns CGT on homes would punish owners

A leading City figure has warned that imposing capital gains tax (CGT) on primary...

The Swansea renews sponsorship of Swansea RFC for 2025/26

Swansea Building Society has renewed its sponsorship of Swansea RFC for the 2025/26 season,...