The number of mortgage schemes available to intermediaries has climbed to its highest level in over 18 months, according to Mortgage Brain’s Monthly Product Analysis.
The total number of live mortgage schemes listed on its mortgage sourcing system increased by 22% in the past month. Figures as of 31 May list 5,805, products (up from 4,753 on 5 May) and bring the number of live mortgage schemes available to its highest level since November 2008, when figures stood at 6,899.
Mortgage Brain says the latest figures representing a 103% increase in overall product availability compared to this time 12 months ago.
Fixed rate products and trackers witnessed the biggest movements during the past month with fixed rate products now representing 3,612 of all available products, up 24% from 2,292 as of 5 May.
Trackers also climbed 24% during May with current figures listing 1,767, up from 1,423. Variable rate products rose for the sixth month in a row (4%) and now represent 426 of all available products – up from 409 as of 5 May.
Mark Lofthouse, CEO of Mortgage Brain, said: “The data from this month’s analysis is very encouraging. Overall product availability is at its highest since November 2008