Mortgage products top 11,000

Fixed rate products saw the biggest increase with 1,026 new products (16%) introduced in the past month while trackers recovered from their first drop in four months with a 6% increase in product availability during April.

Variable rate products increased by 12% during the past month.

Mark Lofthouse, chief executive officer of Mortgage Brain, said: “The data from this month’s analysis is particularly encouraging and continues to show positive movement for the UK intermediary mortgage market.

“There are nearly 7,000 more products available now than this time last year, which really does open up the playing field for brokers in sourcing a greater variety of mortgage products to help better meet their client’s needs.”