More than one third of people in the UK who do not own a home believe they will never be able to get on the property ladder, a study found last Tuesday.

MoneySupermarket found that 35 per cent of the 2,000 people it surveyed do not feel that home ownership will ever be within their reach, although this is a drop from 41 per cent when similar research was carried out last year.

Some 29 per cent of people who are not currently home owners thought that a new scheme recently announced in the Budget called Help to Buy, which will allow more people to buy a home with a deposit as low as five per cent, would help them to get on the property ladder sooner.

The comparison website said that the number of first-time buyer mortgage products currently on the market is up by 17 per cent compared with a year ago.

However, first-time buyers now need a 24 per cent deposit on average to take out the deals on offer, compared with a typical 22 per cent deposit needed in April 2012.

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