The number of mortgage transactions available in the UK through mortgage brokers has jumped 57 percent in the past six months, with more than 2,600 new mortgages that have been introduced since April this year, according to UK mortgage specialist Mortgage Brain.
But the month of September recorded a 4 percent decline in availability, as 298 mortgage products were withdrawn.
Fixed-rate mortgage transactions dropped 7 percent to 4,667 loans. Mortgage trackers were slightly stronger with 1,668 products, while variable rate availability saw a continued growth, increasing for 10 straight months to 985 products.
“Despite seeing a slight dip in product availability during September, the longer term analysis clearly shows that the UK mortgage market has shown real and significant improvements in terms of product choice and availability,” said Mark Lofthouse, chief executive of Mortgage Brain.
“Twelve months ago, for example, was a particularly low point for product availability with 2,868 mortgage schemes listed on our system,” he added.