The gradual decline in lenders offering 125 per cent mortgages has reached its conclusion with this kind of product no longer being offered.
Moneyfacts has noted that some lenders were prepared to take the risk that such deals carried while house prices were on the rise, but the credit crunch and unchanging property prices have changed that.
Additionally, there are just two lenders still in the 100 per cent plus market as Bradford & Bingley and Mortgage Express have now pulled out.
Denise Harvey, mortgage analyst at Moneyfacts.co.uk, commented: "For first time buyers there are limited options, with fewer providers now offering 100 per cent mortgages. There are also shared ownership schemes and open market home buy schemes. We may also see an increase in the number of guaranteed mortgages."
He added that first-time buyers will have to wait to see if the Chancellor's budget on March 12th brings any good news on the property front.
Moneyfacts was founded in 1988 and is an independent financial information provider.
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