Mortgages for customers with a 10% deposit have effectively vanished from the marketplace, according to research by the BBC.
The number of mortgage deals available with a 10% down payment has fallen to just 66, compared with 586 three months ago and 1,197 deals in February of this year.
The figures, collated by Moneyfacts, also show that 5% deposit deals have effectively been eradicated from the market, with just 35 such mortgage deals available.
Overall, the number of mortgages on the UK market fell dramatically as the credit crunch continues although the number of deals available to customers with a 15% down did increase from 198 to 228.
The news will be a huge blow to those not only looking to purchase a property but also, given the fall in house prices, those looking to remortgage as their fixed rate deals expire or those intending on using equity in their home for debt consolidation.
Earlier this week, we told you how almost half first time buyers were now turning to their parents for help with finding enough capital for a mortgage deposit.
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