Growing numbers of young professionals look set to stay in the family home for longer periods of time as they struggle to raise the money needed to get their own place, a new study has suggested.

While both Halifax and Nationwide recently reported that house prices across the UK have experienced slight dips over the past couple of months, a new report from mform.co.uk has revealed that the size of a deposit needed to get onto the property ladder has increased from 34,000 to more than 41,000 in the space of just 12 months.

Furthermore, this problem is being exacerbated as lenders pull mortgage products from the market in order to protect themselves from the credit crisis.

Francis Ghiloni, marketing and business development director at mform, commented: "With the mortgage market contracting, lenders are getting tougher on how much theyll lend and what level of deposit theyll demand.

"Availability remains the major issue for the mortgage market, but the focus for borrowers should be on the true cost of their loan, taking into account all fees as well as the monthly payments," he added.

Given this, it seems likely that many families may find themselves struggling for space as grown-up children and their possessions stay around for longer, and many would benefit from safe storage solutions.

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