The average amount being borrowed by first-time buyers in the UK has almost doubled over the past four years, the Abbey has revealed.

According to the latest figures published by the lender, £130,000 is now the average amount being borrowed in order to get on the property ladder in comparison to 2003's figure of £75,000.

In addition, Abbey's research also found that 53 per cent of first-time buyers now have a mortgage in comparison to just 16 per cent four years ago, while the number of people borrowing more than 75 per cent loan to property value rose to almost 80 per cent this year from 63 per cent in 2003.

Commenting on these latest figures, Nici Audhlam Gardiner, head of mortgages at Abbey, stated: "We are fully aware of the difficulties first-time buyers have in getting onto the property ladder.

"Our research shows that they have to borrow more and more to get even a small foot on the ladder."

Recent research put the average amount being borrowed by first-time buyers as being equivalent to 3.17 times their annual income.