The lending criteria of the last decade has allowed many people to buy who otherwise wouldn’t have been able to, but Charcol now expects to see more parents trying to raise money from their own homes to gift as a deposit, and to see more lenders to find less risky ways to help, such as the First Start mortgages where parents’ spare income can be used.

Katie Tucker, spokesperson for Charcol, said: “There are lenders still offering 100% and 95% mortgages, for now, and borrowers should seek advice from a whole-of-market mortgage broker very soon if they want one.

“For remortgages up to 75%, Abbey has a 4.99% two-year fix for a fee of £2,999 with free valuation and legals. For borrowing up to 90%, West Bromwich Building Society has a ten-year fix at 5.39% for a fee of £999, including free valuation and legals on remortgages.”