Secured loans are continuing to be out of reach for first-time buyers, it has been observed.
Sales director at estate agency Your Move Gareth Samples noted that although those with a lot of equity or a large deposit can secure finance, people not yet on the property ladder find it difficult to do so.
"Building societies don't want to take the majority of the risk so it's making it increasingly difficult to get a mortgage," he said.
And Mr Samples added that the situation is unlikely to improve until secured loans with a high loan-to-value return.
Mortgages with 90 or 95 per cent loan-to-value will need to become available, he remarked, or "it's not going to get that much better".
The Co-operative Bank and Places for People recently found that the average first-time buyer expects to require a deposit of £19,100.
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