Mortgage broker loan availability steadies

| November 12, 2009 | 0 Comments

The November TrigoldCrystal Product Index shows that in the three months to the end of October, the number of home loans available to brokers has stabilised.

TrigoldCrystal provides sourcing software to the mortgage intermediary market, with over 70% of intermediaries using its Prospector system.

According to the firm, the average number of mortgage products for brokers rose by 7%, to 2,203, in October and showed a fluctuation of fewer than 250 products over the three months from the beginning of August.

The company’s marketing and business development director, David Aylmer, comment: “Although numbers continue to be well down on previous years (down 75% from October 2008 and 95% lower that Oct 2007) and certain product types such as self cert have been all but eradicated, there is still a broad selection for brokers to choose from.”

He adds: “The average number of live products available to mortgage intermediaries rose from 2,063 in September to 2,203 in October; an increase of 140 individual products.”

Mr Aylmer makes the point that the number of products solely available from lenders rose by just three in October.

Finally, the firm’s research has also revealed that the average monthly mortgage payment in October was £742.25 which is around 20% less than in October 2008.

Tags: brokers

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