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Mortgage deals soar above 14,000

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  • 07/10/2011
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Mortgage deals soar above 14,000
The number of mortgage products increased for the tenth consecutive month in September, up by more than 500 for intermediaries to a 41-month high of 14,361, according to Mortgage Brain.

Its figures showed that total product numbers are at their highest level since April 2008, having increased 96% on October last year and grown 38% in the last six months.

In particular, deals with an LTV of 80% and above have increased 30% in the last six months, while buy-to-let mortgages have also performed well as lenders have returned to the sector.

Variable products have shown the largest growth, up 126% over the last 12 months to 2,224 of all available products.

Fixed rate deals remain the most popular, accounting for 8,524 of all products, rising 3% during September.

By comparison, tracker mortgages fell 6% in September to 3,613. Nevertheless, compared to October 2010, trackers are up 117%.

Mark Lofthouse, chief executive of Mortgage Brain, said: “The past few years have been incredibly challenging for the UK mortgage market and for mortgage brokers in particular.

“However, the data from our product analysis over the last few months has been extremely positive and this continues to be the case.”

He added: “What is crystal clear, however, is the fact that mortgage intermediaries, with access to the biggest range of mortgage products available in one place, should be the first port of call for homebuyers looking to secure their first mortgage or discuss possible remortgage opportunities.”

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