MoneyExpert.com: Minimum mortgage deposits

Sean Gardner of MoneyExpert.com said: "The biggest struggle now is not being able to afford a mortgage - it's being able to get one. Availability is the biggest hurdle despite all the Government efforts to get lenders lending.

"If you've not got a substantial deposit nowadays or equity in your house then your choices are now severely limited. On average if you are remortgaging you now need a deposit of 15.5 per cent if you take out a fixed or variable mortgage.

"And one in five fixed and variable mortgages now come with a maximum loan-to-value of 75 per cent or less, putting even further pressure on homeowners to find enough ready cash to get a new loan.

"First time buyers and people renegotiating their mortgage for the first time will be worst affected. When disposable income is already at breaking point for many, it is frankly impossible to see how those with limited savings will find a way to get a foothold on the property ladder."