First-time buyers will need much more support to access finance under the new Conservative government, independent mortgage broker Private Finance has claimed.
It said that renewed competition, rising house prices and increased regulation will make getting on the property ladder harder.
Private Finance said Government schemes such as Help to Buy and the newly-proposed Starter Home Scheme are niche areas and should in no way be regarded as a panacea'.
It also warned that rising house prices under the new Government may leave many first-time buyers struggling to meet affordability criteria without expert guidance.
But the broker said a surge in the number of first-time homeowners in the next 12 months is entirely possible', provided they seek professional advice and explore all the opportunities available.
Simon Checkley, managing director of Private Finance, said: "Both sellers and buyers have been sitting on their hands waiting for the election to pass. Each group will now almost certainly spring into action, which will mean more supply.
"Lending and transactions were subdued in the first quarter of this year; meaning pent-up demand is likely to ignite a flurry of activity which is great news for the market as a whole."
Increased supply and rising wages might improve buying conditions for first-time buyers, Checkley said.
"Furthermore, supply is likely to be improved by the predicted improvements to planning legislation under the new Conservative leadership which will also support new development and housing, as well as the introduction of possible tax incentives to support building programmes.
"First-time buyers are also now operating in a low interest rate environment, which gives them a further advantage in today's market."
But affordability is still a major issue for first time buyers and is likely to be made worse by the predicted rise in house prices.
"First-time buyer affordability as a multiple of earnings is still on a par with previous maximums and lender criteria is now much more stringent.
"For this reason, many buyers could find themselves struggling to gain access to finance from their traditional high street bank or building society.
"To fully understand what is achievable, these buyers would be well advised to seek expert guidance from an independent broker who can not only take care of the increased administrative burden introduced by MMR, but will also provide access to a variety of products from across the whole of the mortgage market."
First-time buyers are having to wait longer than planned to take their first step onto the property ladder according to new research from Clydesdale and Yorkshire Banks.
The banks' annual First Time Buyers (FTB) Survey found that 65% had to wait longer than they hoped to move into their dream home, while only 8% managed to become a homeowner quicker than planned.
The figures show a slight improvement on the previous 12 months when 68% had to delay getting on the property ladder.
However, 17% of those who are unable to meet their home ownership deadline are waiting between one and two years longer than planned.
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