Mortgage sourcing firm Trigold's January Product Index has revealed the number of live mortgage products has dropped to 4,357 - a figure last seen in February 2002.
Trigold revealed 483,502 mortgage sources were performed in December, a drop of just 1% from November - a real-term drop in activity of 4,697 individual mortgage searches.
This is 122,768 more searches than December 2008, indicating a rise in broker activity year on year by 34%.
David Aylmer, marketing and business development director at Trigold, suggests the increase in mortgage sourcing reflected the additional effort required by brokers to find a product for their clients.
"This can be seen both in product availability and also in the fact that there are fewer than 200 products available for those needing loans in excess of 80% LTV," he says.
"I have no doubt that mortgage product numbers will bounce back at some point but it is looking increasingly unlikely that we will ever return to the peak in the early part of 2007."IFAonline
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