Nearly one out of four people hoping to get on the housing ladder expect they will take at least five years to save the deposit for their first home, a study has shown.
Santander's survey found 23% of first-time buyers expect to continue setting money aside for 60 months to raise the large deposits sought by lenders.
Of more than 2,000 people questioned, more than half hoped to use their savings as a deposit and 40 months was the average time they expected it would take to accumulate enough cash.
The proportion of people who believed they could save enough within a year was down to 11% from 19% in a similar survey conducted three years ago.
Just over a quarter (28%) were thinking of getting a second job or working overtime so they could raise the amount faster, while a similar proportion (27%) planned to take a loan.
Phil Cliff, director of Santander Mortgages, said: "Saving for a deposit is no easy task, especially in today's financial climate."
