Fall in first-time buyer mortgages

The choice of mortgages for struggling first-time buyers has shrunk in the last year despite Government efforts to unblock the housing market, a financial information website has found.

One year ago, there were 62 deals available for people with a 5% deposit, many of whom would be first-time buyers, making up 2.7% of the market, Moneyfacts said. But one year on that number has dropped to 54 products, equating to 1.9% of all the mortgages on offer.%VIRTUAL-SkimlinksPromo%