Almost a third of starters have a down payment of at least 25%, according to comparative searches on Moneyfacts.
While the majority of searches for first-time buyers are focused on mortgages with a higher Loan-to-Value (LTV), a significant minority of borrowers appear to have a significant deposit and are looking for deals with a 75% LTV, the figures show.
Based on average UK house prices, that would mean a deposit of around £67,800.
At the other end of the spectrum, almost a third (30%) of first-time buyers are looking for 90% LTV deals and 12% are looking for 95% LTV mortgages, suggesting that 42% may only have a 5 or 10% deposit.
This translates into a deposit of between £13,560 and £27,120 based on average house prices.
Borrowers with smaller deposits and those who have built up less equity could pay £174 more per month compared to those with larger deposits when borrowing the same amount.
Adam French, head of consumer finance at Moneyfacts, says: “The wide spread of LTV demand from first-time buyers reflects a housing market that is increasingly shaped by uneven starting points.
“While many first-time buyers put their money away with mortgages with 90-95% LTV due to deposit restrictions, a notable minority enter the market with significant deposits, often helped by family support or inheritance.
“The concern is that a two-tiered market will emerge where buyers with higher deposits have access to cheaper rates and lower monthly repayments, while others pay a hefty premium.
“For second-time buyers and customers remortgaging, the data shows that equity remains king, with most waiting to build at least 25% equity.
“Although sensible buyers should note that significantly cheaper average rates are around 15% equity.”
Mary-Lou Press, chair of the National Association of Estate Agents, added: “There is a growing gap facing people trying to get on the property ladder and move up.
“While it is encouraging that some first-time buyers are able to enter the market with larger deposits, the reality for many is that high house prices and the cost of living make savings of 20 to 25% simply unachievable without additional support.
“This creates a two-tiered system where those with access to family support or inherited wealth can benefit from lower mortgage rates and more choice, while others are forced into products with higher loan-to-value ratios and significantly higher monthly repayments.
“To level the playing field, we need sustained action to boost housing supply and build the right homes in the right places, as well as targeted support for first-time buyers to help them save and access affordable finance.
“Without this, homeownership risks becoming increasingly out of reach for many would-be buyers, especially younger households and households without financial support.”