deposit required for first time buyers

[plus3]

Does any one know if the current gossip about needing a 30% deposit as a first time buyer is actually true?

We have (what I thought was) a good deposit, but on hearing that we may now need 30% has crushed me

No, you can still get 90% mortgages but the deals won't be as good as for those who have larger deposits. Speak to a mortgage broker rather than relying on gossip .

Do yourself a massive favour and check out ourproperty.co.uk etc and make sure whatever you buy is at least 30% off the prices being paid for similar houses in 2007. No matter what bullshit any estate agents give you.
Good luck.