Mortgage Brain said that the number of products on its sourcing system fell by 158 during October to 14,203 but that the longer term analysis was positive.
Figures showed that there were 14,203 products on Mortgage Brain’s sourcing system in October – a fall of 158 products since the start of the month.
However, it said that the longer term analysis remained positive with an 86% uplift in overall product availability compared to a year ago and a 21% increase compared to six months ago.
Mixed movement was seen for trackers last month, which dropped for the second consecutive month by 5% to 3,431.
The withdrawal of seven fixed rate products during October had little impact on the product’s dominant position as the most popular product type, representing 8,517 of all available mortgage products.
More variable rate products launched than any other in October, increasing for the second month in a row by 1% to 2,255. The research also showed that products with an LTV of 80% of less have risen by 31% over the past six months and represent 1,807 of all available products, up from 1,379 in May 2011.
Mark Lofthouse, chief executive officer of Mortgage Brain, said: “The withdrawal of 158 products during the past month barely detracts from the past year’s performance where mortgage products increased for 10 months in a row and remain at their highest point in 42 months.
“Overall product availability is up 86% compared to this time twelve months ago and the increase in the higher LTV banded products gives further encoragement to those looking to take their first step on the product ladder.”
