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Intermediary products rise in September

by: Mortgage Solutions
  • 08/10/2009
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The average number of intermediary mortgage products rose by 4% to 2,063 in September from 1,979 in August, revealing some encouragement for the intermediary sector, according to Trigold.

The October TrigoldCrystal Product Index, which is constructed from data on Trigold’s mortgage sourcing system, shows activity levels have also risen. The number of intermediaries performing a mortgage search on behalf of a client rose by 11% to 606,496 in September.

Those finding a mortgage deal can expect to pay on average 1% more with the average monthly payment rising by £8 to £758.58. This is still 21% less than would have been payable last year.

Direct only products also rose in September at a corresponding 4% with numbers rising from 1,179 in August to 1,223.

David Aylmer, marketing and business development director at TrigoldCrystal, said brokers should be encouraged because the numbers are heading in the right direction.

He added: “The increase in broker actively is a great source of encouragement with a mortgage being sourced every second by a broker using TrigoldCrystal. It is the first time in recent times that we have had some good news and although these are not necessarily the green shoots of recovery, it makes a nice change to report figures moving in the right direction.”

 

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