The mortgage sourcing platform said the past 12 months have been responsible for the bulk of the improvement during this period with 4,432 new products being introduced in the past year alone, representing a 138% increase.
Variable rate products rose for the eleventh month in a row by 13% with current figures listing 1,112 products – up from 985 on 4th October 2010.
Following their first decline in five months during September fixed rate products rose 7% in October to 4,984 products.
Trackers dropped by 7% during October to 1,558, down from 1,668 on 4th October 2010.
Mark Lofthouse, CEO of Mortgage Brain, said: “The data from this month’s analysis is very encouraging and is a further indication of the positive direction in which the market seems to be heading.
“Overall product availability is at its highest level in over 24 months. Fixed rate products are back on the rise again, and if variable rate products continue their current form they could soon bear witness to 12 consecutive monthly increases, which would be a fantastic achievement.”
