The number of mortgage products available to advisers has increased by 108% over the past two years, according to new data from Mortgage Brain.
An additional 5,172 mortgage products have been introduced into the UK mortgage market since the end of June 2015, representing a 108% increase in product availability.
A 48% growth in product numbers over the past 12 months has also helped to take the total number of live mortgage products from mainstream lenders listed on Mortgage Brain’s sourcing systems to a new high of 9,973 (as of 26 June 2017).
The number of buy-to-let mortgages has also seen a large increase over the same period with 2,634 buy-to-let products currently listed on Mortgage Brain’s systems – up 149%, from 1,058 in June 2015.
Mortgage Brain’s latest analysis also shows a breakdown of product availability by loan to value (LTV) ratio for all mainstream lender products. While representing the smallest product type by volume, 90%+ LTV products have shown the strongest performance over the past two years – increasing by 137% from 187 in June 2015 to now stand at 443.
An additional 3,961 products over the past two years represents a 97% uplift in the number of products with a 60% LTV or more, with 8,034 products currently available to advisers.
Mark Lofthouse, CEO of Mortgage Brain, said: “The rapid increase in product availability over the past two years is not only great news for mortgage advisers but a clear indication of the significant improvements the UK mortgage market has made in terms of product choice and availability.
“There are now over 5,000 more products available, and with strong rises being seen across all areas, advisers now have more opportunities to source and advise on a greater variety of products, and importantly, continue to meet the changing needs of their clients and their mortgage requirements.”