The number of mortgage products on the market is at its highest since September 2008, after rising 13% in April, according to Mortgage Brain.
Mortgage product availability rose for the fifth month in a row to reach 11,748. This is a rise of 54% compared to the same time six months ago, and a 142% increase on the year before. Mortgage Brain said fixed rate products saw the biggest increase with 1,026 new products (16%) being introduced during the past month. Trackers bounced back from their first drop in four months with a 6% increase in product availability (167 new products) during April and variable rate products rose by 12% during the past month. Mark Lofthouse, chief executive officer of Mortgage Brain, said: “The...
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