There are currently 2,724 products available in the mortgage market, according to moneysupermarket.com.

1,461 of these are available to first time buyers, while 1,420 of these products are available direct from the lender.

There are currently 411 products available at 85% LTV. This is the highest number of products available for this LTV bracket since January 2010 and 205 products more than February 2009 when just 206 products were available.

Mortgage rates have decreased this month whilst the number of products available has increased.

There are 567 two-year fixed rate mortgages available at an average rate of 4.80% this is 0.62% lower than December 2009 when the average rate stood at 5.42%

There are 417 two-year tracker products available at an average rate of 3.77%. This is 0.26% lower than December 2009 when the average rate stood at 4.03%.