The firm revealed the average number of live products available to intermediaries dropped from 2,610 in June to 2,202 in July – a reduction of 408 individual products and a fall of 6%. The reduction leaves product availability significantly lower than previous years. The average number of live direct only products available in July was 1,240 – an increase of 46 products from June.
TrigoldCrystal said 672,124 mortgage sources were performed in July, wich represents a fall in intermediary activity of 14.76% when compared with the previous month. This is a significant 47% drop in broker activity from July 2008 when 903,512 individual mortgage searches were performed.
David Aylmer, marketing and business development director at TrigoldCrystal, noted that although broker activity had fallen slightly since June, it was still in excess of May’s levels and seemed to be “holding firm”.
He explained: “Product availability continues to be one of the central issues in the mortgage sector with July showing yet another fall in the number of intermediary products from 2,610 in June to 2,202 in July. What should also be of interest to brokers is the increase in the number of direct only products which have been increasing month on month since April this year.”
