The number of mortgage products accessible to intermediaries has reached its highest level in several years, based on figures released today from Mortgage Brains Monthly Product Analysis.
Over 200 new products were introduced during May 2011, representing a 2% rise in product availability, and convey the entire number of live mortgage products from its market leading sourcing system to 11,996 (as of 30th May 2011) its highest level since May 2008.
Trackers lay claim to the lions share of new products in the past month,witnessing a 5% increase (133 new items) in availability to now represent 3,057 of all available mortgage products.
A 2% increase (119 services) during May saw the quantity of Fixed interest rate products climb for the third month in a row with current figures (as of 30th May 2011) now waiting for 7,695.
The total amount of Variable rate products, however, dropped slightly (0.3%) last month now represent 1,244 of available mortgage products down from 1,248 by 2nd May 2011.
Positive activity during the last few months is constantly on the play a vital role inside long term analysis with Mortgage Brains latest data showing encouraging increases in general.
With increases in most three main product types nowadays there are almost 4,500 more products accessible to UK mortgage intermediaries than there was this time around few months ago representing a 60% uplift in overall product availability.
The Buy-To-Let market is constantly on the represent a dynamic area for lenders and intermediaries while using choice and use of BTL mortgages increasing by 184% during the past six months.
Encouraging signs can also be seen for homebuyers which has a 20% deposit or less while using latest data showing the quantity of products with a LTV rate of 80% or maybe more has risen by 35% over the past half a year to represent 1,393 of available mortgages.
Mark Lofthouse, CEO of Mortgage Brain, comments, Reaching a three year loaded with relation to overall product availability is often a significant milestone and shows, once more, how the UK mortgage companies are continuing to advance within the right direction to the benefit for intermediaries and borrowers.
With strong rises - particularly within the last few months - being seen across the board, it would appear that most sectors are increasingly being catered for by product providers, which provides intermediaries more the opportunity to source and strategies a larger various products and as a consequence, still satisfy the changing needs of the clients and mortgage requirements.
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Mike Raybone, Chartered Marketer and emarketing specialist
