While over three-quarters of non-homeowners want to own their own home, only 14% are saving and making sacrifices to their lifestyle to achieve their ambitions, according to research from Halifax.

The lender has responded by launching Head Start Home Saver, a new initiative to encourage potential first time buyers to save for a deposit.

The report found that 32% of non-homeowners have a “realistic plan”” to buy a house within the next five years