TrigoldCrystal Product Index - March 09 - April 09 - May 09
Total number of mortgage sources 802,707 716,867 642,321
Average monthly mortgage payment £759.34 £761.39 £769.57
Average number of [Intermediary Only] products 2,777 2,858 2,673
NEW: Average number of DIRECT ONLY products N/A 1,009 1,118
Mortgage Product Highlights:
• The average number of live products available to Mortgage Intermediaries fell from 2,858 in April to 2,673 in May – a fall of 185 individual products and a drop of 6.45%.
• Year on year analysis shows that mortgage product availability was significantly lower than previous years being down by 80% from May 2008 and 96% from May 2007.
• NEW: The average number of live Direct Only products available in the month of April was 1,118. This is an increase of 109 products.
Mortgage Sourcing Highlights:
• 642,321 mortgage sources were performed in May which is a fall in intermediary activity of 10.40% when compared with April, a fall in broker activity in real terms of 74,546 individual mortgage searches.
• This is a significant 47% drop in broker activity from May 2008 and means that 579,420 fewer individual mortgage searches performed.
Mortgage Pricing Highlights:
• The average monthly mortgage payment in April was £769.57 which is £8.18 higher than the previous month but £175.67 cheaper than May 2008.
David Aylmer, marketing and business development director at TrigoldCrystal commented on the results saying: “Although product numbers have fallen for the second month in a row, the speed of descent has definitely slowed suggesting that we might be reaching some welcome stability in the market. It is still a tough commercial landscape for brokers although reports of increased house sales and suggestions that prices are on the up should be welcome news. Broker activity – the number of times they physically source the market on behalf of a client – has also fallen by 10% in May but this is likely to be in direct relation to a general slowdown in the housing market. The good news for borrowers and intermediaries is that there are still over 2,500 products to choose from including schemes available up to 95% Loan to Value.”
