Banks and building societies are continuing to ration mortgages despite having access to cheaper funds through a new scheme, figures have shown.

The data reveals that there has been little movement in the availability of mortgages for potential borrowers who are unable to offer a large deposit. Brokers say that, for those who have a large enough deposit, lenders have been dropping mortgage interest rates.

But there are few signs yet of things becoming easier for first-time buyers.

More than two-thirds of the mortgage products available on the market in the UK at the start of November required a deposit of at least 20%, according to figures from financial information service Moneyfacts.

The proportion has changed little since a month earlier. The same can be said for the relatively low levels of mortgages available for those offering a deposit of 10% of a property's value or less. This is despite lenders having greater access to cheaper funds through the Funding for Lending scheme, run by the Bank of England.

Ray Boulger, of mortgage brokers John Charcol (UK Auction List's mortgage partner), said the scheme had prompted lenders to drop their interest rates on some new mortgage deals, but it had not yet led to lenders relaxing their requirements for high deposits.

"There are now several lenders who are offering five-year fixed deals, at interest rates of less than 3%, but for people with a 40% deposits," he said.

"There have been rate reductions for people seeking a deal with just a 10% or 15% deposit. But what hasn't happened is lenders loosening their criteria, so that people who did not qualify for a mortgage three months ago can do so now."