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The Council of Mortgage Lenders have suggested that approximately 80% of under 30's are receiving financial help from parents when purchasing their first home. Research has shown that they are finding it extremely difficult to save deposits. The CML also suggested that lending criteria loosened in May. The average first time buyer deposit has remained at 25% since February and the average income multiple is 2.97. This compares to home movers who borrow an average of 67% of the property's value and borrowed an income multiple of 2.68. Further easing is expected over the summer as higher loan to value products have come onto the market.
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