The number of mortgage schemes increased during April to represent an overall product increase in nine out of the last 10 months, according to latest figures from Mortgage Brain’s Monthly Product Analysis.
Following a slight dip during March, the total number of live mortgage schemes listed on its sourcing system increased by 2% in the past month. As of 5 May, there were 4,753 mortgage products – up from 4,665 on 5 April.
Variable rate products saw the biggest increase in product availability for the fifth month in a row. The latest figures show 409 live variable rate products, up 7% in the past month.
Fixed rate products are back on the increase (3%) following their first drop in six months during March with current figures listing 2,921 available products – up from 2,840 on 5 April.
Trackers, however, dropped for the second month in a row to stand at 1,423 (as of 5th May 2010), down 1% from 1,441 during April.
Mark Lofthouse, CEO of Mortgage Brain, said: “Considering the turbulent year we’ve had being able to report an increase in overall mortgage product availability for nine out of the last 10 months is great news for the industry.