A survey by discount website www.MyVoucherCodes.co.uk also found that a fifth of Brits would consider a 120% mortgage if such a scheme was available to them.

Despite all respondents claiming to be in the market to buy a house and secure a mortgage, the average deposit saved so far was just £3,500, not enough for a deposit for most homes.

Just under half (43%) said they’d be turning to family members for financial help buying their first home.

The discount site carried out the research after noticing a rise in the number of searches on-site for the term ‘first-time buyer 100% mortgages’ and ‘120% mortgages’.

Mark Pearson, chairman of MyVoucherCodes.co.uk, said:

“The property market isn’t good at the moment and although there are various schemes out there to encourage first-time buyers, like 5% deposits on new homes, it’s just not enough to make it viable for some people.

“However, 100% mortgages are not a good idea and would no doubt lead to trouble if they were reinstated by some banks or building societies for first-time buyers. People need to prove they can get a good sum of money together, otherwise keeping up with mortgage payments could be a shock to the system. It’s worrying that so many people would consider risky lending schemes like 100-120% mortgages. If they do ever make an appearance again as a common option, I say steer clear!”