Mortgage brokers see 51% rise in loan availability
The number of home loans accessible by mortgages brokers has increased 51%, to 4,665, since this time last year.
However, April saw a 4% drop in products available, compared with March, according to sourcing software specialist, Mortgage Brain.
The choice of tracker deals took an 11% dive to 1,441, and the availability of fixed-rate loans declined slightly to 2,840, whereas intermediaries saw the number of variable loans at their fingertips increase 4%, to 384.
Mortgage Brain says that fluctuations of this nature must be expected in the current economic environment, and points to the year-on-year improvement as a better indicator of trend.
Mortgage brokers are feeling generally upbeat about 2010 according to recent research by Platform, which is part of Co-operative Financial Services.
Sixty-six per cent of participants in the lender’s latest Intermediary Outlook Survey were positive, although 39% of those questioned expected dual pricing (where lenders offer their most competitive rates direct to borrowers) to continue to be a major challenge in the intermediary market.