Mortgage schemes available to intermediaries have dropped by 78% compared to the end of August 2008, according to monthly figures from Mortgage Brain.
The number of products available increased by only 0.2% in August with an additional five schemes added during the month.
Fixed-rate products remained the most popular, accounting for 1,586 of the total number of live mortgage schemes, followed by trackers at 506 and variable at 413.
Current figures for products available through advisers at 31 August stand at 2,505.
Although they were stable during August, they are down by a massive 78% compared to the end of August 2008 when 11,544 mortgage schemes were available to intermediaries.
The year on year figures also reveal a big decline in the number of trackers and fixed rate schemes, which have dropped by 88% and 78% respectively.
Mark Lofthouse, chief executive of Mortgage Brain, says it is no suprise little movement in availability was seen as August is typically one of the quietest months.
He adds: "We are clearly still a long way off where we were this time 12 months ago but the current figures, especially when compared to product activity over the last three months, could be seen as further signs of market stabilisation."
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