First-time buyers (FTBs) in the UK are becoming increasingly desperate in their attempts to access a mortgage and raise a deposit for a home .
This is according to new research from Santander Mortgages, which has shown 28 per cent of those looking to get their foot on the first rung of the property ladder have taken on a second job or worked overtime in order to boost their finances .
In addition, 27 per cent of FTBs claimed they are hoping to take out an unsecured loan in order to generate the cash needed.
The investigation also revealed around one-third of survey respondents never feel they will be able to take out a mortgage and own their own home.
Phil Cliff, director of Santander Mortgages – part of the Santander Group, which has roots stretching back to 1857 – said it is not surprising individuals are being increasingly resourceful when it comes to raising a deposit.
The industry figure added: “Despite a somewhat stagnant housing market, the mortgage market is actually very competitive, which is why it’s vital that people shop around.”
