Indicating that the month on month loss of products is over

Trigold, the UK’s leading mortgage sourcing system has revealed strong indications that the drop in numbers of live mortgage product available in the UK intermediary market has bottomed out with 14,175 live mortgage products available in July.

The Trigold Product Index is the definitive guide to Mortgage Product Data in the UK intermediary mortgage market 7 out of 10 mortgage brokers subscribe to the Trigold sourcing system which has more products from more providers than any other system.

The August 2008 report (which looks at statistics for July 08) has revealed that although 877 products were lost in July, the average number of products available is up (by 183) from two months ago.

July also witnessed a continuation in the consistent number of product providers with live products in the market. April’s increase of 10 providers re-entering the market continued through May, June and now July.

David Aylmer, marketing and business development director at Trigold said: “We can see from the most recent results that we’ve turned a corner in terms of product numbers and the market should take heart from this. Last month’s report saw the first rise in product numbers in the previous 12 months and although there has been a drop in July it is by such a minimal number that many will rightly view this as market stabilisation.

Although the number of live products is still considerably down on last July’s figures (where overall product number was 64,803 in July 2007, some 50,627 higher than now), the data suggests that product availability will remain around the fifteen thousand mark, the average for the past four months. It’s early days but this is an encouraging sign for the mortgage market.”