Abbey, Alliance & Leicester and Coventry building society have all decided to withdraw mortgages specifically aimed at first-timers and others struggling to scrape together enough money to buy a home without a deposit.
Northern Rock and Birmingham Midshires were also 'reviewing' the viability of such products. The popularity of the loans amongst first time buyers grew during the past five years as lenders sought new ways to help them afford steeply rising house prices.
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