Mortgage availability looking bright says Mortgage Brain
According to Mortgage Brain’s monthly product analysis, there has been an increase of 87 per cent in the number of mortgage products available on the market during the last year.
Product availability increased for ten consecutive months, and saw just two minor declines in October and November. The total, as of 5 December, stands at 14,052.
Variable rate products saw the highest overall performance with a 120 per cent increase in products (2,329 vs. 1,058). Tracker mortgages increased 108 per cent whilst the ever popular fixed rate increased by 72 per cent with 3,481 products introduced since December 2010.
Mark Lofthouse is the Chief Executive Officer of Mortgage Brain:
“What a great way to head into the end of the year. Our longer term analysis clearly illustrates that the UK intermediary mortgage market has shown a real and significant improvement in terms of product choice and availability over the past 12 months.
“There are now over 6,500 new products available, and with strong rises being seen across all the main product types, intermediaries now have more opportunities to source and advise on a greater variety of products, and importantly, continue to meet the changing needs of their clients and their mortgage requirements.”¹
Content correct at time of publication