HSBC mortgage pledge to help many first-time buyers may not be enough.

The HSBC mortgage pledge to earmark £3 billion in loans to help those first-time buyers struggling to get a foot on property ladder, may not be enough because of the lack of first-time property home-owners who are able or willing to sell.

Research shows that the number of first-time home-owners who are moving up the property ladder has declined, which means that the availability of affordable homes for many first-time buyers is now limited.

Those who bought a home in the last few years are finding that they cannot afford to move up the housing ladder, and without a property to buy the HSBC mortgage pledge is not likely to help with a first-time purchase.

The property website Rightmove has found that those home-owners who would normally have been able to move up and on from their first purchase, cannot now afford to move because of factors such as negative equity and low financial confidence.

It is estimated that around 25 per cent of house hunters during 2012 will be young first-time buyers but Rightmore research is indicating that those buyers will struggle to find a suitable property.

First-time home-owners generally own terrace houses and flats but currently they cannot afford to sell and move on. This may mean that many first-time buyers will not be able to benefit from lenders deals such as the those offered through the HSBC mortgage pledge.

Miles Shipside at Rightmove commented on their research advising, that it provides clear evidence of a new challenge to young buyers as there is now a lack of property that would normally be available to buy.

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