57% rise in broker-accessible products

Published on

Mortgage Brain’s latest Monthly Product Analysis reports that the number of live mortgage schemes available to brokers has risen by 57% during the past six months.

Over 2,600 new mortgage products have been introduced into the UK intermediary mortgage market since April 2010. Current figures (as of 4 October), show that the total number of live mortgage schemes listed on its sourcing system stand at 7,320.

For the first time in five months, however, a decline (4%) in product availability was seen during September following the withdrawal of 298 products. It’s a small movement though compared to August, which saw a record monthly increase of 1,537 new products (25%).

Mixed movement was also seen during the past month for the industry’s three main product types – Fixed, Tracker and Variable.

Fixed rate products witnessed their first decline in five months (7%), with current figures listing 4,667 products, down from 5,020 on 30 August 2010.

Trackers increased slightly for the first time in three months, up 1% from 1,649 (as of 30 August 2010) to now represent 1,668 of all available products.

Variable rate products fared the best during September, however, increasing for the tenth month in a row (4%) with current figures listing 985 products – up from 949 on 30 August 2010.

The 12 month analysis for all three product types also makes for favourable reading with current figures showing impressive increases of 148% (Variable), 151% (Trackers) and 159% for Fixed rate products.

Mark Lofthouse, CEO of Mortgage Brain, said: “Despite seeing a slight dip in product availability during September

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

Landbay unveils new holiday let deals

Landbay has launched a new suite of holiday let mortgages as the lender looks...

LendInvest strengthens development finance team

LendInvest has appointed Dan Lohn as relationship manager within its development finance team as...

Unbranded provides £13.75m office acquisition loan

Unbranded Finance has completed a £13.75m financing package to support IndigoScott’s purchase of two...

University students face loneliness epidemic but shared homes offer relief

British universities are grappling with what has been described as a loneliness epidemic, with...

The Suffolk raises LTV for JBSP and new build flats

Suffolk Building Society has increased the maximum loan-to-value on its joint borrower sole proprietor...

Latest publication

Other news

Landbay unveils new holiday let deals

Landbay has launched a new suite of holiday let mortgages as the lender looks...

LendInvest strengthens development finance team

LendInvest has appointed Dan Lohn as relationship manager within its development finance team as...

Unbranded provides £13.75m office acquisition loan

Unbranded Finance has completed a £13.75m financing package to support IndigoScott’s purchase of two...