As a first-time buyer looking to take that increasingly elusive first step on to the property ladder, you will undoubtedly be familiar with the plethora of ways in which lenders will try to assist you in this tricky plight. Shared equity schemes, interest-only mortgages and guarantor loans are just some of the methods that lenders have devised to help the dream of homeownership become a reality.

Saving for a deposit can be one of the hardest parts of the process, but this can be alleviated by lenders allowing you to borrow 100 per cent of the property's value or even beyond that.

But don't be fooled into thinking that this removes the need for saving on your part or a high degree of financial discipline. You should never borrow beyond your means and you should not rely on your property increasing in value to pay off your mortgage as this may not occur at the rate you expect. Borrowing a larger than usual amount upfront should be seen more as a short-term cash flow solution than a long-term plan.

While an increasing band of lenders will allow you to borrow 100 per cent of the property's value, a more limited number will lend you even more, but with an understandable degree of caution.

To avoid high levels of risk or getting borrowers who simply can't afford to pay the amount borrowed back, some lenders offer a loan of 95 per cent of the property's value with a further 30 per cent available as an unsecured personal loan.

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