Product numbers soar 87% in 2011
16 December 2011
The UK mortgage market has seen an 87% increase in product availability over the last 12 months, compared to 2010, Partners Financial has found.
The total number of live mortgage schemes listed on its mortgage sourcing system has increased from 7,519 a year ago to 14,052, as of 5 December 2011.
Partners Financial said that 2011's performance is the best in more than three years, with ten consecutive monthly increases in product availability over the year.
Variable rate products recorded the best overall performance throughout 2011, with product availability up 120% during the year.
November was the third consecutive month variable rate deals increased, up 3% to a total of 2,329 compared to 1,058 a year ago.
There was little movement in the availability of trackers during November.
Nevertheless, Partners Financial found that trackers have increased 108% during the past year, showing positive progress of the long-term performance of this product type.
Fixed rate products accounted for 8,294 of all available products, increasing by 72% compared to last year.
John Pokora, Managing Partner of Partners Financial, said: “Our longer-term analysis clearly illustrates that the UK intermediary mortgage market has shown a real and significant improvement in terms of product choice and availability over the past 12 months.
“There are now over 6,500 new products available and, with strong rises being seen across all of the main product types, intermediaries have more opportunities to source and advise on a greater variety of products, and importantly, continue to meet the changing needs of their clients and their mortgage requirements.”
FOR MORTGAGE ADVICE THOMAS MORRIS CAN INTRODUCE YOU TO PARTNERS FINANCIAL.