The sourcing system found that the average number of live products available to intermediaries fell from 2,610 in June to 2,202 in July – a drop of 6 per cent. But the average number of live direct only products available in July was 1,240 – an increase of 46 products from June.
Year-on-year analysis shows that availability has significantly dropped – TrgioldCrystal says there were 13,464 live mortgages in July 2008 and 64,803 in July 2007.
There were 672,124 mortgage sources performed on the system in July, a fall of 14.76 per cent or 116,359 searches when compared with June. The sourcing system says this is a 47 per cent drop in broker activity from last July, when 903,512 individual mortgage searches were performed.
TrigoldCrystal marketing and business development director David Aylmer says: “Although broker activity has fallen slightly since June, it is still in excess of May’s levels and seems to be holding firm.
“Product availability continues to be one of the central issues in the mortgage sector with July showing yet another fall in the number of intermediary products from 2,610 in June to 2,202 in July.”