Mortgage schemes climb to new high

The number of mortgage schemes available to intermediaries has climbed to its highest level for five months, according to Mortgage Brain’s Monthly Product Analysis.

The total number of live mortgage schemes listed on its market leading sourcing system increased by an encouraging 15% in the past month. Current figures (as of 5th October 2009) list 2,868 mortgage products, up from 2,505 on 31st August 2009.

The increase during September brings the number of live mortgage schemes available to its highest level since May 2009, when figures stood at 3,222. Since then, two significant drops have been seen followed by three consecutive increases.

Trackers witnessed the biggest increase during the past month, climbing by 32% to 666 products, followed by Fixed rate products up 14% to 1,804. Variable rate products, however, are on the decline for the first time in four months having dropped by 4% during September to 398.

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