Taking out a mortgage worth 100 per cent or more of a property''s value is a good option for young professionals trying to get on the property ladder, according to a mortgage expert.

With the median graduate salary in the UK standing at £18,000, many young people find it hard to purchase a home due to personal debt incurred while studying and the ever increasing cost of a house.

Peter O''Donovan, mortgage manager for independent financial advisor Bestinvest, said: "The whole thing about the 120 per cent mortgages is that they''re [targeted] at a particular profession. Not everyone wants to take a 100 per cent mortgage."

He added that it was primarily professionals with "good earnings, a good job, who need to move quickly to get onto the market" who opted for the loans.

"For young professionals who''ve had to pay a lot of money for their studies, this is actually quite a good product for them," Mr O''Donovan commented.

However, while Abbey recently launched a 125 per cent mortgage, lenders Norwich and Peterborough have taken its 100 per cent plus products off the market in the face of the recent credit crunch.