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Mortgage products top 12,500

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  • 11/07/2011
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Mortgage products top 12,500
The total number of mortgage products available to brokers increased for the seventh month in a row in June to 12,525 – the highest figure since April 2008, according to Mortgage Brain.

The total was up 4% on the 11,996 recorded at the end of May 2011, with variable rate deals showing a 21% rise in numbers to 1,500.

In addition, tracker deals increased 6% during June to 3,237, while fixed rates rose 1% to 7,788 of all available deals – the highest level of fixed rates since August 2008.

Mortgage Brain found that more than 4,000 fixed rate mortgages have been launched to the broker market in the last 12 months.

Mark Lofthouse, chief executive of Mortgage Brain, said: “Further encouraging data has been extracted from this month’s product analysis, which is great news for brokers and the mortgage market as a whole.

“Around 4,500 new products have become available during the past seven months alone and healthy increases across the board have seen the number of fixed, variable and trackers climb to their highest level since the summer of 2008.”

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