Mortgage Availability Improved by 87% in 2011

A research by Mortgage Brain found out that the number of available mortgage products in the UK has increased by as much as 87% in the past 12 months.

As such, in December 2011 there are 14,052 mortgages available from UK banks and building societies, whereas there were only 7,519 products available at the same time last year.

According to Mortgage Brain experts, such significant increases in banks' performance have not been registered for the past 3 years.

Commenting on the findings, Mark Lofthouse of the Mortgage Brain, said: "Our longer-term analysis clearly illustrates that the UK intermediary mortgage market has shown a real and significant improvement in terms of product choice and availability over the past 12 months."

He highlighted that the rises were found in the main mortgage products, like variable mortgages, tracker mortgages and, of course, fixed-rate mortgages.

The full version of the Mortgage Brain report is available for free on the company's official website.