Young can't afford first mortgage due to homes shortage

There's a warning that it could become even harder to get that first mortgage.

The body which represents housing associations in England, the National Housing Federation, says not enough new homes are being built.

It claims the shortage could push up prices and make it more difficult for young people to get on the ladder.

The government plans to spend £4.5 billion on affordable housing in the next four years but the NHF doesn't believe this is enough.

It's also warning that people who rent are likely to pay more as the rental market becomes more crowded.

'Can't get mortgage'

Newsbeat has been in Stoke-on-Trent, where the average price of a flat is £74,000 and the average semi-detached house costs £97,000.

Twenty-four-year-old Oliver Sheldon is a builder and would like to buy a place of his own.

"You just can't get a mortgage," he said.

Katie and Jade, both 17, hope to be able to afford a home one day

"It's hard to show proof of earnings when you're self-employed to get the bank to lend you money.

"If you're still earning you can make your monthly payments, it's just getting that 10% you need to put down. You're looking at 10 grand for anywhere decent that doesn't need doing up.

"It's a hell of a lot, especially if you're paying rent at the same time."

Katie Wheeldon and Jade Underwood are both 17 but still hope to buy their own homes one day.

Jade says she's in a rush to move out.

She said: "I want to get somewhere as soon as I turn 18, literally on my 18th birthday.

"I think all I'll be able to do is rent a flat. My dad's just bought a house and it's taken all of our money, so he can't afford anything for me.

"When I get my house it will be me paying for it, so I might have to wait a bit longer."

Katie hasn't given up either and doesn't want to rely on mum and dad.

She said: "It's a lot of money but you've got to try and get there on your own. It's something that you have to do yourself."