Broker activity leaps in February

The March's TrigoldCrystal Product Index shows that users of TrigoldCrystal's Prospector system ran 543,215 sources in February compared to 533,385 sources in January.

Mortgage products increased by 10% in February from 4,535 in January to 5,047. Intermediary only products rose by 11% to reach 3,510 products while direct products rose by 8% to reach 1,538.

The average monthly mortgage payment increased from £724.90 to £750.76, a rise of £25.86. Although the figure rose, it is still significantly cheaper than the £781.09 which was recorded in July 2009.

David Aylmer, business development and marketing director at TrigoldCrystal, commented: "Even though intermediaries must compete against the dual pricing offered by many lenders, the fact that overall there are more products available is good news for brokers and consumers alike. I think we have reason to be cautiously optimistic for business levels in the second quarter."