At least 100,000 first-time buyers who have no help from the ‘bank of mum and dad’ were unable to enter the housing market last year, as the number of low deposit mortgages slumped to a record low.
In 2009 there were only 28,000 loans to first-time buyers at 90 per cent or more - where buyers had to find a 10 per cent deposit or less - down from 245,000 in 2006. And numbers of younger first-time buyers able to buy a home without help with a deposit fell by 100,000 per year between 2006 and 2009.
Click here to read the full story Deposits hit 40-year high as 100,000 first-time buyers kept off property ladder
The continuing problems for first time buyers is helping to fuel increasing demand for private rented property throughout the UK. In some parts of the country landlords and agents are now operating a 'sealed bid' approach to letting property, where prospective tenants have to compete with each other to rent a property.
However, there are now record levels of unpaid rent which is running at 11.7%. So, whilst landlords may benefit from increasing demand there is also increasing risk.