First-time buyers who are trying to get their foot on the property ladder are still struggling, according to one market expert.

The amount of activity from first-time buyers has not risen above remortgaging customers for some time, which suggests they cannot access the funds for a loan, Ray Boulger, senior technical manager at John Charcol, has suggested.

Mr Boulger explained that it is "because of the big deposits that are needed which will tend to be more difficult for a first-time buyer to get than a mover".

He added that it is easier for those in a property as they already have equity in their current home that they can put forward as a deposit.

The comments followed a report by the Chartered Institute of Housing that homeownership is now out of reach for many people who do not have enough money to find a deposit, yet are not eligible for social housing.

Written by Paul Governor

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