The number of live mortgage schemes available to intermediaries has climbed to its highest level in two years, according to Mortgage Brain’s Monthly Product Analysis.

A 5% increase in product availability during October means the total number of live mortgage schemes listed on Mortgage Brain’s mortgage sourcing system rise to a high of 7,654.

This latest rise brings the number of live mortgage schemes available to UK intermediaries to its highest since October 2008, when figures stood at 8,106.

The analysis shows that the past 12 months has been responsible for the bulk of the improvements during this period with 4,432 new products being introduced in the last year alone, representing an impressive 138% increase.

Variable rate products rose for the eleventh month in a row (13%) with current figures listing 1,112 products, up from 985 on 4 October.

Fixed rate products have returned to growth, with a 7% increase in the past month, totalling 4,984 of all available products.

Trackers, however, continue to fluctuate and fell by 7% during October with current figures listing 1,558, down from 1,668.

Mark Lofthouse, CEO of Mortgage Brain, said: “The data from this month’s analysis is very encouraging and is a further indication of the positive direction in which the market seems to be heading.