Mortgage product numbers continue to recover

The number of mortgage schemes has increased for the fifth month in a row, according to sourcing system Mortgage Brain.

The total number of live mortgage schemes listed on the system rose by 4% in November. As of 1 December 2009, there are 3,337 mortgage products, up from 3,222 on 2 November and now stand at their highest since January 2009.

This shows a 16% increase compared to six months ago.

The latest figures list 942 live trackers, up 15% in the past month. Meanwhile, fixed rate products held steady during November seeing a marginal rise of nine products to bring the total number of live fixed rate products to 2,052. Variable rate products feller the third month in a row to stand at 343, down 6% from November.

Mark Lofthouse , CEO of Mortgage Brain, said: “Total mortgage schemes are at their highest for 11 months