Mortgage schemes on Mortgage Brain continue to climb

5 November 2009 | By Natalie Thomas

The total number of live mortgage schemes listed on sourcing system increased by 12% in the past month.

Current figures as of 2 November 2009 list 3,222 mortgage products, up from 2,868 on 5 October 2009 and up a healthy 34% from their all time low at the end of June.

The 12 month comparison is also starting to look more positive. Although there are 3,677 fewer products available now compared to November 2008, a 53% reduction, the figures indicate that product numbers have stabilised during 2009.

For the second month in a row, trackers witnessed the biggest increase in product availability, up by 23% in October to 816. Fixed rate products also followed a similar climb to last month, increasing by a further 13% to 2,043.

Variable rate products, however, dropped for the second month in a row, down by 9% during October to stand at 363.

Mark Lofthouse, chief executive officer of Mortgage Brain, says: “The figures from this month’s analysis show further signs of encouragement as product availability continues to increase. It’s also encouraging to see that the longer term comparisons are looking a little healthier, although, as can be seen, there’s still a long way

If you enjoyed this article, sign up here to receive daily email updates from Mortgage Strategy and Follow @mortgagestrat