Building Societies are now feeling the credit crunch as a range of lenders have withdrawn products in recent weeks.
Lenders are now targeting low loan to value (LTV) business as there are less risks associated with this type of business.
Many smaller building societies have been inundated with business and can not cope with demand and have also been withdrawing products. Some have withdrawn all of their ranges.
In the last month the availability of residential and buy to let products has dropped significantly.
Credit scoring is tighter and maximum loan sizes are being reduced which is making it harder and harder for people to get mortgages.
Some lenders have restricted lending by reserving its best deals for those with a 25% deposit.
Other lenders have dropped the maximum LTV on self-cert business and buy to let to 75% and will not lend to first time buyers on self cert or sub prime, or to first time landlords on buy to let.