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| First-time buyers fear lock-out | First-time buyers fear lock-out |
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| Two-thirds of young people without their own home believe they have no prospect of getting on the property ladder, a survey has suggested. | Two-thirds of young people without their own home believe they have no prospect of getting on the property ladder, a survey has suggested. |
| But 77% of them still aspire to home ownership, the poll of 4,000 non-homeowners for the Halifax found. | But 77% of them still aspire to home ownership, the poll of 4,000 non-homeowners for the Halifax found. |
| An increase in the rental sector could widen the wealth gap between homeowners and non-homeowners, the report concluded. | An increase in the rental sector could widen the wealth gap between homeowners and non-homeowners, the report concluded. |
| Higher deposits and tougher lending criteria have put off some buyers. | Higher deposits and tougher lending criteria have put off some buyers. |
| However, the report for the Halifax, one of the UK's largest mortgage providers, said there was "undue pessimism" among potential first-time buyers who feared having a mortgage application declined. | However, the report for the Halifax, one of the UK's largest mortgage providers, said there was "undue pessimism" among potential first-time buyers who feared having a mortgage application declined. |
| Some 47% of those surveyed, who did not own their own homes, said they would like to save for a deposit but had no spare cash to do so. | Some 47% of those surveyed, who did not own their own homes, said they would like to save for a deposit but had no spare cash to do so. |
| Nearly half of those who described themselves as having a realistic plan to buy within the next three to five years said they were unable to put aside enough for a downpayment. | Nearly half of those who described themselves as having a realistic plan to buy within the next three to five years said they were unable to put aside enough for a downpayment. |
| However, Stephen Noakes, commercial director of Halifax Mortgages, told the BBC that the days of 100% mortgages were over. | However, Stephen Noakes, commercial director of Halifax Mortgages, told the BBC that the days of 100% mortgages were over. |
| But he said that mortgages for those offering a 5% deposit could come back to the market, and there were options such as shared equity schemes that could assist those trying to get on the property ladder. | But he said that mortgages for those offering a 5% deposit could come back to the market, and there were options such as shared equity schemes that could assist those trying to get on the property ladder. |
| Are you a first-time buyer? Send us your comments and experiences of trying to get on the property ladder using the form below. |