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Brokers products reach five-month high

The number of mortgage products available to brokers has climbed to its highest level since May, shows data from Mortgage Brain.

The total number of live mortgage product listed on Mortgage Brain’s sourcing system rose by 15% in September, from 2,505 to 2,868.
 
Trackers witnessed the biggest increase during the last month, climbing by 32% to 666 products.

Fixed-rate deals rose by 14% to 1,804, while variable rate products dropped for the first time in four months by 4% to 398.
 
The number of mainstream lender products with a LTV of 70% or more increased by 8% last month.

Mainstream buy-to-let products fared extremely well with an increase in product numbers of 20%.

The 258 sub-prime products account for less than 1% of all products available.
 
Mark Lofthouse, chief executive of Mortgage Brain, says: “Overall the data from this month’s analysis is encouraging.

“Total mortgage products are at their highest for five months, the number of trackers and buy-to-let products increased significantly and the higher level LTV products also increased.

“But the appetite for offering adverse products is exceptionally limited.
 
“As we’ve always said, there’s still a long way to go but it’s encouraging to report positive figures as we start to head for the end of an extremely turbulent year.”

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