Mortgage squeeze: How is it affecting you?

Mortgages are getting harder to come by. First Direct has become the first high-profile lender to close its doors to new customers.

The bank - one of the country's top 20 home loan providers - gave only five hours' notice that it was effectively closed to new business on Tuesday.

The move came as figures showed that more than 90 mortgage products a day have been scrapped over the past week as lenders try to hoard cash. At the end of March there were 5,785 products available to borrowers - there are now less than 5,320.

It is now also almost impossible to get a 100 per cent mortgage, with Scottish Widows wanting at least 5 per cent deposit for young professionals such as doctors and accountants - previously they were able to borrow 110 per cent of the property's value.

Experts warn that more than two-million home owners on variable interest rate deals could find that their mortgage bills increase if other lenders follow suit.

The hardest hit, however, are first-time buyers and the estimated three-million home owners who are due to refinance their mortgages over the next 18 months.

We want to know if you have been turned down for a mortgage or are finding it hard to get an affordable deal from lenders?