This is according to Mortgage Brain's Monthly Product Analysis, which indicates the biggest monthly increase in over 20 months.
The total number of live mortgage schemes listed on its market leading sourcing system increased by 25% in the past month, up from 6,081 on 2nd August 2010 to 7,618 (as of 30th August 2010).
The figures are a far cry from this time last year when a mere 0.2% increase in product availability was seen during August and the total number of products stood at 2,505. Since then over 5,000 products have been introduced (a 204% increase), to bring today's figures to an all new high.
Fixed rate products lay claim to the lion's share of new products introduced last month. A 31% increase (1,179 new products) during August brings the total number of Fixed rate products available to UK intermediaries to 5,020 - up from 3,841 on 2nd August 2010.
Variable rate products now represent 949 of all available products - their highest in over two years - having witnessed an 85% increase (437 new products) during August.
Trackers continue their downward trend, however, dropping for the third month in a row (5%) but still hold their ground as the second most popular product type by representing 1,649 of all products.
Three hundred and fifty new core lender products, for example, were introduced in August representing a 17% increase in availability. Broker exclusives fared even better, witnessing a 29.9% increase (1.187 new products) during August 2010.
Mark Lofthouse, CEO of Mortgage Brain, commented, "Compared to August 2009 the UK mortgage market has moved ahead leaps and bounds in terms of product availability, which is great news for all.
"This time last year our analysis showed that five new products were introduced during August. This year the number peaks at just over 1,500. The overall 12 month analysis is equally as impressive with 5,113 more products now available in the UK intermediary market than there was this time last year.
"Not surprising, the lion's share of the increase is in products available to brokers to sell, which is substantially outstripping the increase in lender direct products."
