Latest Trigold Product Index highlights changing market


The October Product Index constructed from data from the Trigold system highlights the changing market with product availability down, average payments down and broker activity up.  

 

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 latest verified figures for September contained within the October report reveal:

  • Average Product numbers for the month of September fell from 16,398 to 14,793 - a fall of 10% which equates to a loss of 1,605 individual products. 
  • The average figure is derived from a month (September) in which product numbers reached a high of 17,261 and fell to a low of 11,360.
  • The average number of products figure is down from the previous month [August] although the numbers are still in excess of July’s figures of 14,175.

David Aylmer, marketing and business development director at Trigold said: “On the face of it, this figure may suggest a continuing stability in product numbers but early indications on October figures suggest that we will see a significant drop in overall product availability. The November Trigold Product Index on October’s figures will be able to show an accurate picture of the month.

There is no doubt about the ongoing effect of the Credit Crunch by looking back at the number of available products a year ago when in September 2007 there were 46,220 products available to UK mortgage intermediaries, some 31,427 higher than now.”

  • Total Sources performed by UK Mortgage Brokers using Trigold in September were 708,047. An increase of 29,261 from August.
  • These figures mean that every second* a UK broker is using Trigold to source a mortgage for a client.


David Aylmer, marketing and business development director at Trigold comments: “The number of times a UK mortgage broker sources a mortgage for a client via Trigold is seen as a gauge of broker activity in the intermediary mortgage market and with 708,047 mortgage sources performed in September (an increase of 4% from August) this shows that mortgage advisors are working slightly harder to place cases.  “However, when compared with 2007 figures we can see that mortgage brokers activity has increased by 13% with 83,929 more sources performed.”

 

“We have also looked closely at the LTV trend analysis which unsurprisingly reveals that the number of loans in excess of 90% LTV has halved in the past 12 months and that the number of 75-80% LTV loans has doubled over the same period. This is in direct relation to the significant change in attitude to the risk profile of mortgages and the appetite for mortgage backed securities” continued Mr Aylmer.


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