Over 1,600 intermediary mortgage products were introduced during January 2011, a 21% increase in product availability, according to Mortgage Brain’s Monthly Product Analysis.
It brings the total number of live mortgage schemes listed on its sourcing system to 9,744 (as of 31 January 2011).
Mortgage Brain says that there are 5,287 more products available to mortgage intermediaries than there was this time 12 months ago.
A 45% increase (820 new products) during January brings the total number of trackers to 2,652 – up from 1,832 on 3 January 2011. Fixed rate products rose by 17% in January and continue to represent the vast majority of product availability with current figures listing 5,982 of all available products.
Little movement during January 2011 was seen for variable rate products, however, which saw 11 products being withdrawn from the market (a 1% decline) with current figures now representing 1,110 of all available products.
Mark Lofthouse , CEO of Mortgage Brain, said: “Overall the data from our latest analysis is very encouraging and creates a further positive view of the UK mortgage market as we move into 2011.