Trying to gain a foothold on the housing ladder could lead to a lack of confidence for many first-time buyers, it has been claimed.

Sue Anderson, head of external affairs at the Council of Mortgage Lenders, explains that first-time buyers are typically subject to greater financial pressures relating to the variability of the property market.

One potential area of comfort to households with equity in their property is homeowner loans, which can provide funds for a variety of reasons.

"First-time buyers are going to be a group who are probably as vulnerable, if not more vulnerable, than everyone else," Ms Anderson comments.

"They may feel a bit wobbly in light of what has been going on in the market," she asserts.

She adds that the market is unlikely to settle completely until after Christmas, when the overall reaction to recent turbulence in the credit markets emerges.

As such, many Britons may be looking to renovate, rather than relocate - with homeowner loans a means of funding any such efforts.ADNFCR-1287-ID-18388465-ADNFCR

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