Broker products top the 6,000 mark

12 July 2010

The number of mortgage schemes available to brokers has broken through the 6,000 mark for the first time since November 2008.

Mortgage Brain’s monthly product analysis shows that following three consecutive monthly rises the total number of live mortgage products listed on its system is up 4% compared with 5,803 in May.

Variable rate products climbed for the seventh month in a row in June, with current data listing 488 products - up 15% from 426 at the end of May 2010.

Fixed rate products have seen a 4% increase in the past month, and now represent 3,764 of all available products.

But tracker deals fell by 0.6% in June. They now represent 1,757 of all products.

Mark Lofthouse, chief executive officer of Mortgage Brain, says: “This time last year the number of products available to brokers hit an all-time low of 2,413.

“To see them rise by nearly 150% and break through the 6,000 barrier is great, and shows the progress that has been made in the mortgage market in the past 12 months.”

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