Moneysupermarket.com has reported that there has been a 22% increase in the number of products available for first time buyers since the start of 2010.
The largest increase has been in the number of mortgages available at 80% loan to value (LTV) with a 76% rise since January.
The average rate for 90% LTV products has also fallen by 0.33 percentage points to 5.82% since January. The average rate available on loans up to 85% LTV has fallen by 0.96 percentage points to 5.02%.
However, the average rate for 95% mortgages has increased by 0.2 percentage points.
Clare Francis, site editor of moneysupermarket.com, said: “It’s encouraging to see the number of mortgages available for those with reasonably small deposits increasing