First-time house buyers could find it more difficult to get onto the property ladder due to fewer mortgage deals with smaller deposits being on offer.

Figures from research body Moneyfacts show there were 137 mortgage offers at 95% loan-to-value on Monday, compared to 347 at the start of 2022.

The downward trend of such deals was accelerated after the mini-budget sparked turmoil on the markets.

Mortgage interest rates hit 14-year highs, but have since begun to fall.

Eleanor Williams , a finance expert at research body Moneyfacts, said first-time buyers were likely to feel the impact of the current climate “keenly” due to them often having smaller deposits and therefore favouring 95% loan-to-value mortgages.

On Monday, Moneyfacts said there were 137 95% loan-to-value mortgage products, compared to 283 on the day of the government’s mini-budget.

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