Mortgage schemes hold steady

The number of mortgage schemes available to intermediaries has remained stable with data released today from Mortgage Brain’s Monthly Product Analysis showing slight increases in p

Related topics:  Mortgages
Millie Dyson
9th August 2010
Mortgages
Compared to the start of July, the total number of live mortgage schemes listed on its market leading mortgage sourcing system increased by 1% - an additional 72 products. Current figures (as of 2nd August 2010), now stand at 6,081.

Fixed rate products increased for the fourth month in a row – up 2% in July to now represent 3,841 of all available products.

Variable rate products also continued their favourable form with current figures listing 512 products – up 5% from 488 at the end of July.

Trackers dropped slightly for the second month in a row (2%) but still remain the second most popular type representing 1,728 of all available products.

The 12 month analysis still paints a positive picture across all areas. Overall product availability has increased by 143% (3,581 new products) compared to this time last year. Variable rate products increased by 30% (118 products) with data for Fixed rate products showing a 142% increase (2,251).

Trackers, however, lead the field in best performance over the past 12 months with current figures showing a 235% increase in product availability.  

Mark Lofthouse, CEO of Mortgage Brain, comments:

“July and August are typically considered the quietest months for product changes so it’s no real surprise that little movement in product availability was seen. What’s important, however, is that what little movement there was, on the whole it’s once again been positive movement.”
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