Mortgage Products Up Thursday, 3rd December 2009

A Monthly Product Analysis from Mortgage Brain shows the total number of live mortgage schemes listed on its sourcing system jumped four per cent in the past month to 3,337 mortgage products, up from 3,222 a month ago. This mortgage analysis survey shows the number of mortgage products on offer to brokers has risen again for the fifth month in a row.

16 per cent more mortgages available compared to this time six months ago continuing the increase in product availability over the past five months.

Fixed rate products held steady during November seeing a marginal rise of nine products to bring the total number of live Fixed rate products to 2,052.The number of tracker mortgages has risen 15 per cent in the last month, with providers bringing out more base rate trackers than any other type of mortgage, with 942 live on Brain’s sourcing system.

In addition variable rate products continue their downward slide, however, dropping for the third month in a row to stand at 343 – down six per cent from November.

Fixed rate products held steady during November seeing a marginal rise of nine products to bring the total number of live Fixed rate products to 2,052.“Total mortgage schemes are at their highest for 11 months, which considering the turbulent year we’ve had is fantastic news and a great way to draw in the end of 2009.

“Total mortgage schemes are at their highest for 11 months, which considering the turbulent year we’ve had is fantastic news and a great way to draw in the end of 2009.

“Everyone in the mortgage industry is well aware that there is still a long way to go on the road to recovery go but it’s nice to finish the year on a high and it will be even better if 2010 starts in the same way,”
Mark Lofthouse, CEO of Mortgage Brain, said.