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TODAY'S OTHER NEWS

Mortgage product availability up by almost a quarter

The number of mortgage products available has increased by 24% over the last 12 months.

According to data from Mortgage Brain, an additional 2,007 products were introduced to the market during 2017.

The strongest performance over the 12 month period was made by buy-to-let products, increasing by 32% to a new high of 2,959.

Meanwhile, 60%+ LTV products have also increased significantly, up to 8,407 - a 22% rise and the number of 70% LTV products has increased by 21%, standing at 6,364. 

Mark Lofthouse, chief executive of Mortgage Brain, comments: “While our latest data continues to show strong movement in product numbers over the past 12 months, our short-term analysis is showing that product availability could be stabilising with less movement seen in the number of additional products for most types during the last quarter of 2017.”

“There’s no doubt, however, that the market is in a much healthier place for all concerned in terms of product choice and availability when compared to the past two to three years. We’ll just have to wait to see what 2018 will have in store for us.”

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