First-time buyers need government aid

More should be done to ease the plight of first-time buyers, according to a new survey.

Six in ten Brits believe the government should be taking greater steps to help the growing number of families priced out of the housing market, a YouGov poll published by the Council of Mortgage Lenders (CML) today reveals.

Local authorities, house builders, lenders and estate agents should also chip in, respondents said.

Of those who felt that lenders could lend a helping hand, more than two-thirds suggested that lower interest at the start of a mortgage would help, while just under two-thirds implied that stretching repayments over longer periods or reducing rates would be beneficial.

Nearly nine in ten of the respondents to the survey indicated that climbing the first rung of the housing ladder was either "very difficult" or "more difficult than ever", while all but one per cent of those interviewed were concerned by the growing debt levels among the young.

"These results confirm that first-time buyer affordability is a major concern to people, whatever their own personal situation," observed Bob Pannell, head of research at the CML.

"While lenders have a continuing part to play in helping borrowers (within the constraints of maintaining prudent lending policies), most people believe the government needs to do more and should use tax breaks and subsidies to ease current affordability problems," he added.