First-time property buyers are feeling the strain when it comes to getting their own home, according to the Council of Mortgage Lenders (CML).

Despite many particpating actively in saving and investment to put down a decent deposit on property, in October first-time buyers had to borrow at a record 3.27 times their income to take out a mortgage, with even people moving house having to borrow at 2.98 times income.

Some lenders have said that they are prepared to lend up to five times salary to enable borrowers to keep pace with rapidly rising house prices, although they insist that strict affordability checks are in place to avoid people getting into too much debt.

Saving and investment are strongly advised to give people a head start in the property race and even taking out the best ISA products for a number of years would allow a greater accumulation of funds to put towards a deposit.

“It is a reflection of a growing affordability problem for first-time buyers,” said Bernard Clarke of the CML. “But it is offset by lower borrowing costs.”

Despite the best efforts of lenders to include as many people as possible in the mortgage-borrowing stakes, rapidly rising property prices have excluded many would-be buyers from the market, with others dangerously over-stretching themselves to put down a large deposit.