Mortgage product numbers stable
Mortgage product numbers stable
Mortgage product numbers stable
The number of mortgage products available to intermediaries has remained stable
during February. This has been confirmed by data released today from Mortgage
Brain's Monthly Product Analysis, which shows little movement in product
availability during February 2011.
Compared to the start of the month, the total number of mortgage products listed onits market leading sourcing system increased by 1.5% during February - an additional 151 products. Current figures (as of 7th March, 2011) now list a total of 9,895 available mortgage products
Despite witnessing little movement during the past month the 12 month analysis isstill showing an encouraging increase in product availability compared to this timelast year up 103% from 4,876.
Fixed rate products continue to dominate the product type, accounting for almost6,000 of all available products. A 0.6% drop was seen during February - a withdrawal of 34 products - to bring the current total to 5,948.
Variable rate products also witnessed a slight drop (0.4%) during February, with current figures listing 1,106 products down from 1,110 at the beginning of the month.Trackers, however, which remain the second most popular product type, fared better during February, climbing by 7% to represent 2,841 of all available products.
Mark Lofthouse, CEO of Mortgage Brain, comments, "We're edging ever closer to the big 10,000 mark but with the last month showing little movement it looks like we'll have to wait and see what improvements in product availability will be made during March and beyond.
"Long term analysis, however, shows that we're well ahead and much better placed than we were this time 12 months ago. Steady as she goes for now though"
About Mortgage Brain
Mortgage Brain Limited is the most widely used and preferred provider of point-of-sale, compliance, mortgage sourcing and electronic trading products and services for mortgage intermediaries. Mortgage Brain offers technology driven sales process designed to support you and your business from initial client contact to completion and beyond.
Mortgage Brain's system are completely integrated to provide a total solution, which is fast, accurate and reliable. With the Mortgage Brain suite of products, mortgage intermediaries can operate in complete confidence, adhering to TCF regulations and getting the best deals for their clients even quicker and simpler than ever before.
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Mike Raybone,
Chartered Marketer
Mortgage-brain
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