News
Mortgage schemes at highest level since 2008
The number of live mortgage schemes available to intermediaries has climbed to its highest level in two years, according to figures from sourcing system Mortgage Brain.
In its Monthly Product Analysis, it reported a 5% increase in product availability during October, with a total of 7,654 number of live mortgage schemes listed on its system.
The latest figures bring the number of live mortgage schemes to its highest since October 2008, when figures stood at 8,106.
Mark Lofthouse, CEO of Mortgage Brain, said: “The data from this month’s analysis is very encouraging and is a further indication of a positive direction in which the market seems to be heading.”
Variable rate products rose for the eleventh month in a row to 13%, with 1,112 available products – up from 985 on 4 October 2010.
Fixed rate products also increased by 7% in the past month, with current figures listing 4,984 available products.
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However, trackers continue to fall with a drop of 7% during October, with the and current figures listing 1,558 – down from 1,668 on 4 October.