The average first-time buyer paid 3.21 times their income to find a mortgage in June, according to research.
This figure, the highest ever recorded, was a rise from 3.20 in May and 3.06 in the same period last year, the Council of Mortgage Lenders statistics show.
However, the number of first-time buyers managing to find a mortgage rose by 14 per cent from May to June, with first-time buyers accounting for 36 per cent of all new mortgage activity.
Michael Coogan, director general of the Council of Mortgage Lenders, commented: "It is interesting to see that even though average first-time buyer income multiples are the highest on record, first-time buyers are still finding ways of getting on to the property ladder .
"It is highly likely that more and more young buyers are turning to parents and grandparents to help them raise the deposit for their first home."
Recent research from Alliance and Leicester stated that just under half of UK parents feel that it is their duty to help their children to find a mortgage.
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First-time buyers paying more for mortgages, study shows
Wed, 09 Aug 2006
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