The number of products available to intermediaries has reached its highest level since May 2008, according to Mortgage Brain.
The number of products on Mortgage Brain’s sourcing system increased by 2 per cent in May, from 11,748 to 11,996. There were 12,268 products available to intermediaries in May 2008.
There are 3,057 trackers available, 7,695 fixed rate products available and 1,244 variable rates now available to intermediaries. And there are now almost 4,500 more products available to intermediaries than there were six months ago, a 60 per cent increase.
The number of products with a loan-to-value of 80 per cent or more has increased by 35 per cent over the past six months to represent 1,393 of all available mortgages.
Mortgage Brain chief executive Mark Lofthouse says: “Reaching a three-year high in terms of overall product availability is a significant milestone and shows, once again, that the UK mortgage market is continuing to move in the right direction for the benefit of intermediaries and borrowers.”