The number of first-time buyers getting on the property ladder fell last month.

Approvals for homes costing less than £125,000 totalled just 23 per cent of all approvals, according to e.surv's mortgage monitor survey.

In 2007 the proportion of approvals for homes costing less than £125,000 was 29 per cent and in 2006 the number was 27 per cent in April and 31 per cent in August.

The chartered surveyor also acknowledged that first-time buyers are struggling to get a foot on the ladder because of the tough lending criteria that is in place.

Richard Sexton, business development director of e.surv said: " It is important lenders don't make it too dificult to qualify for the best mortgages. Tightening criteria in May are going against this grain. Some lenders are ahead of the pack and and are offering good deals, but for others its not enough just to advertise a good headline rate."

Katy John of PricedOut said: "The number of first-time buyers entering the UK housing market has been steadily declining for the last ten years. Despite some small improvements, mortgage conditions remain tough for first-time buyers with some banks starting to shift their attention towards buy-to-let investors who are able to offer higher levels of equity."