The number of mortgage products available to intermediaries has increased by 40% during the past six months, according to Mortgage Brain’s Monthly Product Analysis.
Over 3,900 new mortgage products have been introduced into the UK intermediary mortgage market since March 2011, indicating a 40% uplift in product availability.
A 2% increase in product numbers during August has taken the total number of live mortgage products listed on Mortgage Brain’s sourcing system to a new high of 13,842, as of 30 August 2011).
Variable rate products fell by 1.5%, the first fall in three months, to now represent 1,724 of all available products.
Despite the slight decline during August, the longer term analysis remains positive with variable rate products witnessing an 82% increase in product availability compared to this time 12 months ago.
Following a 3% increase (258 new products) during August, fixed rate products remain the most popular product type accounting for 60% of all available products with 8,273 products being listed on Mortgage Brain’s sourcing system.
A 1% increase last month saw trackers climb for the fifth month in a row and now stand at 3,845, up from 3,808 as of 1st August 2011.
Mark Lofthouse, CEO of Mortgage Brain, said: “Mortgage product numbers have increased for the ninth month in a row now
