This is according to figures released today from Mortgage Brain’s Monthly Product Analysis.
Following three consecutive monthly increases, the total number of live mortgage schemes listed on its mortgage sourcing system currently stand at 6,009 (as of 5 July 2010), up 4% from 5,803 on 31 May 2010.
Variable rate products climbed for the seventh month in a row during June, with current figures listing 488 products – up 15% from 426 at the end of May 2010.
Fixed rate products continue their domination of product type availability having seen a 4% increase in the past month to now represent 3,764 of all available products – up from 3,612 (as of 31st May 2010).
Trackers dropped slightly during June (0.6%) to represent 1,757 of all available products, however, the longer term analysis shows that over 1,000 new products have been introduced during the past year, representing a 210% increase in product availability over 12 months.
Mark Lofthouse, CEO of Mortgage Brain, commented, “This time last year the overall number of products available to intermediaries hit an all time low of 2,413 so to see them increase by nearly 150% to now break the 6,000 mark is a great indication of the progress that has been made in the UK mortgage market over the past 12 months.
“Despite the slight drop in Trackers last month, product availability is once again, up across all areas, which is particularly encouraging.”
