The number of product illustrations downloaded by brokers has increased for the fourth week in a row, according to data from Mortgage Brain.

Over the past seven days the number of European standardised information sheets downloaded by mortgage advisers increased by 9.4 per cent, following an increase of 4.8 per cent the week before.

This came after six weeks of falling volumes as the coronavirus lockdown weighed heavily on activity.

ESIS numbers are now up 28.9 per cent from the lowest point seen in the week ending April 26, although they remain down by 31.5 per cent from the nine-week average to March 16.

Product choice has also started to improve as the number of deals on the market rose by 3 per cent growth over the past week to 8,450. 

This is up by 13.8 per cent from the lowest point in the week ending April 12, but remains 42.4 per cent below the pre-pandemic nine-week average to March 16.

Mortgage Brain chief executive Mark Lofthouse says: “The data suggests that the mortgage market has now turned the corner and is slowly but surely recovering from the shock of the pandemic, with increasing activity and product choice. 

“It remains very early days however, with further progress likely to be gradual.

“Nonetheless, the make-up of the business we are seeing is striking. “The last week has seen a substantial rise in business involving home movers and first-time buyers rather than remortgagors, alongside an increase in higher loan-to-vale lending. 

“The message that the housing market is once again open for business is starting to get through to those looking to move up or down the ladder. 

“With the significant changes in product numbers and criteria since the onset of the pandemic, the expertise and insight offered by intermediaries has never been more vital in helping those buyers find the right mortgage product for their circumstances.”