First-time buyers still face an uphill struggle on to the property ladder according to Bradford & Bingley, with 90% failing to get the property they want or using their bargaining power well.

Despite property prices stabilising and it now being considered a "buyer’s" market, 43% of first-time buyers believe they have less bargaining power than a year ago. The annual First Time Buyer Report from Bradford & Bingley shows.

• Nearly a third (32%) of recent purchasers admitted to not negotiating on the asking price, with 15% who are planning to buy said they don’t intend to negotiate.
• Half of those asked are waiting three years before being able to afford to buy, 29% have waited over five years.
• 44% are still paying off debts, with 31% claiming they have little or no savings and are struggling to build up a deposit while paying rent.
• Just under a third (31%) of new homeowners feel completely stretched and have little or no money to furnish their home.

FTBs remain crippled by debts and rarely have a deposit

From the report’s findings just over a fifth (21%) stated that they don’t have a deposit and are opting instead for a 100% mortgage. Of those who have a deposit more than a third (35%) have got the money by alternative means, including taking out a personal loan or borrowing from friends and family.

FTBs are relying on friends & family to help them out

One in six (16%) have either borrowed or were given the money by family to pay for the deposit, with 8% relying entirely on the family to cover the associated costs such as stamp duty and furniture. Furthermore, another 10% are buying their property with relatives.

The FTB property – smaller, less desirable and further out of town

A third admitted to having to buy in a neighbourhood that is less desirable than the one they originally wanted, while 29% have had to move further out of town than initially anticipated. 14% said they had to buy a place smaller than they first hoped in order to get on the ladder.

Homebuying process daunting with a few unexpected costs

Of those questioned, 70% of newcomers found the homebuying process daunting. Nearly a half (45%) cited legal fees and stamp duty as the biggest surprise sting on their bank balance and a vastly underestimated cost of buying a house. One in five (19%) admitted that they have made no provisions for paying extra costs such as council tax, renovations or furniture.