Countrywide has reported a 40% increase in mortgage applications last month.

Nine out of 10 products applied for via Countrywide in February were fixed rates. Overall, fixed rate mortgage applications reached their highest level since July 2009, making up 88% of all mortgage applications in February, a 4% increase on the previous month.

Property viewings rose by 40% in February across Countrywide’s network of 1,300 estate agency and lettings offices.

The number of sales agreed also rose 47% in February however, overall sales volumes were 4% lower than the same period last year.

Tenant demand in the private rental sector increased by 11%, with over 19,000 new tenants registering for rental accommodation in February.

Grenville Turner, chief executive of Countrywide, said: “We are beginning to see some early signs of improvement in the property market