The average number of intermediary mortgage products rose by 4% to 2,063 and activity levels for intermediaries performing a mortgage search on behalf of a client rose by 11% to 606,496 for the month.
TrigoldCrystal Product Index Jul 09 Aug 09 Sep 09
Total number of mortgage sources performed 672,124 545,337 606,496
Average monthly mortgage payment £765.80 £750.58 £758.66
Average number of [Intermediary Only] products 2,202 1,979 2,063
Average number of DIRECT ONLY products 1,240 1,179 1,223
David Aylmer, marketing and business development director at TrigoldCrystal commented on the results saying: “For the seven out of ten brokers who use Trigold Crystal this month’s index will be of some encouragement that the numbers are at least heading in the right direction. Last month we had to sadly report that product availability has dropped to its lowest level for seven years but in September an albeit modest increase takes intermediary products once again above the 2,000 mark. The average number of live products available to Mortgage Intermediaries rose from 1,979 in August to 2,063 in September; a rise of 85 individual products equating to an increase of some 4%. For those following the direct products debate we can reveal that direct only products also rose in September at a corresponding 4% with numbers rising from 1,179 in August to 1,223. Additionally, it is probably wise to put these numbers in context and although there is a monthly rise, product numbers are still down 86% from last year and 96% from 2007.
“However it is an increase in broker actively that is the greatest source of encouragement with a mortgage being sourced every second by a broker using TrigoldCrystal. In the month of September 606,496 mortgage sources were performed some 11% more that in August. Although this is still down 17% from last year it is only 3% off activity levels for the same month in 2007. For those finding a mortgage deal they can expect to pay on average 1% more with the average monthly payment rising by £8 to £758.58 although this is still 21% less than would have been payable last year.
It’s the first time in recent times that we’ve had some good news and although these are not necessarily the green shoots of recovery it makes a nice change to report figures moving in the right direction.”
