Slim rise in broker products

The number of mortgage products available to brokers stayed relatively flat in April with a gain of 88 products over the month.

The latest figures from Mortgage Brain show that the total number of mortgage products for brokers listed on Mortgage Brain’s sourcing system rose by 2% last month, going from 4,665 on April 5 to 4,753 as at May 5.

But although April only saw a small increase in product numbers, the number of broker deals has consistently risen for nine out of the last 10 months, with the exception of March.

Variable rate deals have grown in number for the fifth consecutive month, rising 7% to reach 409.

Fixed rate deals rose by 3% following their first drop in six months during March.

There are currently 2,921 available fixed rate deals, up from 2,840 on April 5.

But trackers dropped for the second month in a row, going from 1,441 to 1,423.

Mark Lofthouse, CEO of Mortgage Brain, says: “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.”