There were 14,175 live mortgage products available to the UK intermediary market in July, according to Trigold.
The Trigold Product Index for August 2008 (which looks at statistics for July 08) has revealed that although 877 products were lost in July, the average number of products available is up (by 183) from two months ago.
July also witnessed a continuation in the consistent number of product providers with live products in the market. April’s increase of 10 providers re-entering the market continued through May, June and now July.
David Aylmer, marketing and business development director at Trigold, said: “We can see from the most recent results that we’ve turned a corner in terms of product numbers and the market should take heart from this. Last month’s report saw the first rise in product numbers in the previous 12 months and although there has been a drop in July it is by such a minimal number that many will rightly view this as market stabilisation.
Although the number of live products is still considerably down on last July’s figures (where overall product number was 64,803 in July 2007, some 50,627 higher than now), the data suggests that product availability will remain around the fifteen thousand mark, the average for the past four months. It’s early days but this is an encouraging sign for the mortgage market.”
