The average two-year 95% loan to value (LTV) fix is just 3.54% in December, tumbling from a typical 6.52% in 2008, Moneyfacts found.
At the height of the financial crisis there were just 17 deals at this level of LTV, whereas that has since increased to 304.
At the same time, the number of 90% LTV deals has hit 656 – its highest ever level and up from 102 in December 2008.
The average two-year 90% LTV rate is now 2.7%, down from 6.53% 10 years ago.
Moneyfacts spokesman Darren Cook, said: “The latest figures show that the average two-year fixed mortgage rate at max 95% LTV has fallen from 4.15% this time last year to a record low of 3.54% this month.
“It is meaningful to note that this significant fall of 0.61% over the past 12 months is despite the Bank of England increasing the base rate by 0.25% in August this year.
“In comparison, the average two-year fixed mortgage rate at a maximum of 60% LTV has increased by 0.12% year-on-year, 70% LTV deals by 0.26%, 75% LTV loans by 0.25% and 85% LTV mortgages have risen by 0.21%.”
He added: “The higher LTV market looks to be showing healthy competition between providers as they vie for first-time buyers’ attention, however this seems to be moving in a completely different direction to the tiers that call on much larger deposits or require a greater portion of equity.”