Lending to borrowers seeking higher-than-average loan-to-value loans fell 12 per cent year-on-year, according to the the e.surv chartered surveying firm.
November had the smallest number of higher LTV borrowers since October 2013. There were 8,250 house purchase approvals to borrowers with deposits worth 15 per cent or less of their property's value in November 2014 - that's 12 per cent lower than the figure of 9,379 a year earlier.
On a monthly basis, higher LTV approvals fell 6.8 per cent from 8,854 in October.
The November dip has compounded monthly falls already recorded in October and September meaning that lending to higher LTV borrowers has dropped by almost a third over the last three months.
As a proportion of the market, higher LTV borrowers - typically first-time buyers - continue to shrink from a five-year peak of 17.8 per cent in August 2014. Their share of total house purchase approvals also dropped in September and October to hit a 10-month low in November of just 13.5 per cent.
This comes as the number of first-time buyer transactions shrank by 12.3 per cent over the last three months according to recent estate agents' data.
The latest figures do not cover the new stamp duty period, introduced only last week.
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