The mortgage industry must provide help to first-time buyers or the property ladder will remain static. That is according to Timothy Lambert, head of consulting at Ducalian, an independent property investment consultancy providing UK and international property investments for a variety of clients. He said: "The industry must help first-time buyers or the ladder remains static. Banks are offering 30-year mortgages as opposed to the traditional 25 and this helps spread payments. "However, any solution always means more debt and surely people must be wary of that by now." Mr Lambert added that the future of property prices remains unclear and with people struggling to pay bills, taking on additional debt may be a bad idea. According to the Association of Mortgage Intermediaries, there will be similar levels of housing transactions and lending levels this year as there were in 2010. It also revealed that the proportion of borrowers who were first-time buyers fell last year. Jennifer Haines Jennifer's speciality knowledge is credit card changes and balance transfers.
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