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Website claims an increase in number of mortgage products

Fri, 05 Feb 2010

Nearly 1,000 new mortgage products were launched last month, according to Mortgage Brain.

The website has claimed that the latest figures represent the biggest monthly increase in product numbers in more than 12 months.

Further to this, January was the seventh successive month that product availability increased, with numbers up 78 per cent on six months ago.

Mark Lofthouse, Mortgage Brain's chief executive, explained that the mortgage industry has experienced a "fantastic" opening to 2010.

He said: "We've just witnessed the biggest monthly increase in 12 months which is a great achievement, and we're continuing to see a healthy introduction of new trackers, fixed and variable rate products."

Meanwhile, the Building Societies Association recently revealed that gross mortgage lending increased by 15 per cent in December on the previous month.

The figures show that £1.8 billion was lent in December, compared to £1.6 billion in November.
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