Both broker activity levels and the number of products on offer to mortgage intermediaries have risen, according to TrigoldCrystal’s product index for September.
The index created from data from their mortgage sourcing system in September has shown the average number of intermediary mortgage products rose by four per cent from 1,979 in August to 2,063 and activity levels for intermediaries performing a mortgage search rose by 11 per cent to 606,496 for the month.
A mortgage is being sourced every second through TrigoldCrystal, which is the greatest source of encouragement, said Trigold.
In the month of September 606,496 mortgage sources were performed and although this is still down 17 per cent from last year it is only three per cent off activity levels for the same month in 2007. For those finding a mortgage deal they can expect to pay on average one per cent more with the average monthly payment rising by GBP 8 to GBP 758.58 although this is still 21 per cent less than the average last year, said the sourcing system firm.
David Aylmer, marketing and business development director at TrigoldCrystal, said: “Last month we had to sadly report that product availability has dropped to its lowest level for seven years but in September an albeit modest increase takes intermediary products once again above the 2,000 mark.”
He added: “For those following the direct products debate we can reveal that direct only products also rose in September at a corresponding four per cent with numbers rising from 1,179 in August to 1,223. Additionally, it is probably wise to put these numbers in context and although there is a monthly rise, product numbers are still down 86 per cent from last year and 96 per cent from 2007.”
He concluded: “It’s the first time in recent times that we’ve had some good news and although these are not necessarily the green shoots of recovery it makes a nice change to report figures moving in the right direction.”
Comments