It has been claimed that purchasing home insurance and obtaining a mortgage is just a dream for many professionals.
According to the Federation of Master Builders, getting on the property ladder is not something the majority of young people and would-be first time buyers are able to do at the moment.
In order for this to change, Peter O'Connell, policy manager at the organisation, believes that the rate of house building in the UK needs to increase so that house prices can fall.
He added that "the banks have to resume sensible lending" and "the longer the government procrastinates, the less cause for optimism there is" as these moves will take time.
Meanwhile, many of those who already own a property are sacrificing their home insurance policy in order to save money during the economic downturn, research conducted by Sainsbury's revealed.
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