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11 May 2010

The latest figures from Mortgage Brain’s Monthly Product Analysis show encouraging signs once again as it reports that the number of mortgage schemes increased during April to represent an overall product increase in nine out of the last 10 months. Following a slight dip during March, the total number of live mortgage schemes listed on its market leading sourcing system increased by 2% in the past month. Current figures (as of 5th May 2010) list 4,753 mortgage products – up from 4,665 on 5th April 2010. Variable rate products continue their current form of witnessing the biggest increase in product availability for the fifth month in a row. The latest figures show 409 live variable rate products, up 7% in the past month. Fixed rate products are back on the increase (3%) following their first drop in six months during March with current figures listing 2,921 available products – up from 2,840 on 5th April 2010. Trackers, however, dropped for the second month in a row to stand at 1,423 (as of 5th May 2010), down 1% from 1,441 during April. Mark Lofthouse, CEO of Mortgage Brain comments, “Considering the turbulent year we’ve had being able to report an increase in overall mortgage product availability for nine out of the last 10 months is great news for the industry. “Bar the slight drop in the number of Trackers, product availability is up across all areas again and the longer term analysis is still showing vast improvements with a 43% increase in mortgage product availability being seen compared to this time last year.” - Ends -

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