Paul Hearnden, a director at MyMortgageDirect, said the deposit that first-time buyers need to put down is “too big”, due to banks protecting their balance sheets. A big factor responsible for the lack of borrowing is insolvency issues. He added: “The only way that we’re seeing first time buyers being able to get that much deposit together is [where] their parents are remortgaging their properties to release equity or giving them savings required to put down a big enough deposit for them to get on the housing ladder.” If you wish to sell your own home sell to our company.