The number of product illustrations downloaded by brokers has increased for the first-time since lockdown, figures from Mortgage Brain reveal.

The sourcing system says that the number of European standardised information sheets downloaded by mortgage advisers increased by 3.8 per cent over the past week, marking the first rise after six weeks of falling volumes.

Product numbers appear to have stabilised at 7,976 after dropping by 46 per cent when lockdown began and lenders removed higher LTV deals because they could not get surveyors to visit properties in order to carry out physical valuations.

Mortgage Brain chief executive Mark Lofthouse says: “Over the last four weeks we have seen the ESIS volumes stabilise and record the first increase last week, and the product numbers show a marginal increase which could signal that the dramatic changes in the market have come to an end. 

“As lenders continue to increase their LTVs the business levels should slowly increase and when the purchase market comes back to life the growth should be more pronounced.

“The market is showing the first signs of growth and if the anticipated slow easing of the lockdown measures happens, intermediaries and lenders could look forward to more growth and slowly working our way back towards normality.”