Mortgage Products on the up, reports North London Mortgage broker, London Mortgage Advice. Friday, 5th March 2010

According to figures from Mortgage Brain,
the number of mortgage products available to brokers is at its highest since December 2008.

Up 9% from the 4,457 available products in February, the total number of broker products listed on Mortgage Brain’s sourcing system hit 4,876 as at March 1,.

For eight consecutive months broker product numbers have now risen.

Compared to this time last year, and is up by a massive 95% from six months ago, product availability has improved by 79%.The number of fixed rate products has continued to rise, up 8% last month to reach 2,884 products.Variable rate products are up slightly, going from 359 in February to 369 currently.Having stayedstagnant for a year.
Long-term analysis shows the number of trackers has shot up 200% compared to the same time last year.

Up from 1,434 in February, there are 1,623 trackers available to brokers.

“The current, mid and long-term analysis of our data is really starting to show a clear picture of market stability and the forward movement that is been made in the mortgage industry.“We are now regularly seeing increases in product availability in all areas, which is particularly encouraging.”Mark Lofthouse, CEO of Mortgage Brain, said.