Product availability soars throughout 2011

The number of mortgage products available to UK mortgage intermediaries has soared during the past 12 months, according to figures released from Mortgage Brain’s Monthly Product Analysis.

An 87% increase (over 6,500 new products) in product availability has been seen in the UK mortgage market during the past year, taking the total number of live mortgage schemes listed on its market leading mortgage sourcing system from 7,519 to 14,052, as of 5th December 2011.

Ten consecutive monthly increases played a key role in the rapid and substantial rise in product availability throughout 2011. Slight declines were seen in October and November; however, the overall yearly performance for 2011 has been the best in over three years when product availability dropped three times throughout the year in 2010 and five times throughout 2009.

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