Product numbers rise for first time in eight months

The number of live mortgage products has gone up for the first time in eight months, shows the latest data from Mortgage Brain.

Product analysis from Mortgage Brain reveals that the total number of live mortgage products rose by 13% during March from 2,731 at the start of the month to 3,091 on March 30.

Trackers products saw the biggest increase at 21%, followed by fixed and variable products, both at 11% each.

The number of mainstream lenders offering products at 80% LTV and above has also risen in the past month.

But the year-on-year analysis shows product numbers are still down 80% on the same time last year.

Mark Lofthouse, chief executive of Mortgage Brain, says: “Although the market is still a long way from where it was 12 months ago we are starting to see the first increases in product availability for some considerable time.

“It’s important, particularly in the current climate, that we continue to closely monitor these changes as over time they represent early indicators of market movement.”