Despite a seventh consecutive week of growth in ESIS volumes, mortgage product numbers have seen their first fall since April as lenders withdraw their high-LTV ranges, according to the latest data from Mortgage Brain.

Overall ESIS numbers have stabilised at pre-pandemic levels, with a small increase of 2.4% over the past week. This is the seventh consecutive week in which there has been a rise in ESIS volumes, leaving them just 8.5% below the levels seen pre-pandemic.

However, the number of mortgage products available to borrowers fell last week, following five weeks of rises.

Product numbers dropped by 3% to a total of 8,746. While this is up by 17.8% on the lowest point seen during the Covid-19 pandemic during April, it remains down by 40.4% on the nine-week average to 16th March.

https://www.financialreporter.co.uk/mortgages/mortgage-product-numbers-see-first-fall-since-april.html