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The steady tightening of lending criteria by mortgage lenders is coming to an end according to an analysis by the CML (Council of Mortgage Lenders).

The CML's latest data shows signs that lending criteria stopped tightening in May with average first time buyer deposits stabilising at around 25 per cent of the purchase price.   Moreover, the CML forecasts that access to mortgages is likely to get better, commenting: "We might expect to see a modest easing in these measures over the summer, as some higher loan-to-value products came on to the market in recent months and lenders reported that they intend to increase lending at higher loan-to-value ratios in the Bank of England's recent Credit Conditions Survey".

How do first time buyers amass a 25 per cent deposit?  The latest research by the CML suggests that eight out of ten first time buyers under the age of 30 are getting help from their parents.  The proportion of first time buyers in this category has doubled in the last three years.

CML economist Paul Samter said: The trend of tightening lending criteria seems to have subsided and we may see a modest easing in these measures over the summer, which will help some borrowers. But overall, access to mortgage finance will still be constrained by the diminished number of active lenders and shortage of funding available to them.

"Meanwhile the Bank of Mum and Dad remains an apparently important source of help for young first-time buyers. Some mortgage products specifically reflect this fact, and again we may begin to see more products that echo this phenomenon."