The number of live mortgage schemes dropped a further 20% in the past month, according to figures from Mortgage Brain.
Total live schemes listed on its sourcing system as of 2 February stood at just 3,496, down from more than 4,400 a month earlier. The total number of mortgage schemes available in the UK intermediary market has dropped by 65% in the past six months. Trackers suffered the biggest fall last month, with 1,215 schemes listed at the beginning of January dropping to 692 on 2 February - a fall of 43%. Variable rate mortgage schemes saw a similar decline - down 38% from 532 to 329 for the same period. Fixed rate mortgages dropped 13%, down from 2841 to 2475. The six month analysis paints a blea...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes