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Neil Sedani, 28, lost his job in IT at the start of the year, forcing him to give up his rented home in Nottingham and move in with his parents. He found another job for slightly less money and wanted to understand how much he could borrow. He wrote into The Telegraph's money page to ask for expert advice. 

Trinity Financial's director Anthony Emmerson responded to his question:

"Mr Sedani is unlikely to find a lender that will fund a £250,000 purchase based on his current salary and a 10pc deposit. Banks usually lend up to five times your salary, so he could feasibly borrow a maximum of £150,000.

"Most banks and building societies are also asking borrowers to put down a 15pc deposit or more. Accord Mortgages and HSBC are the biggest lenders to offer 10pc deposit rates, but HSBC has been limiting the number of low-deposit mortgages it provides.

"He could save for longer, buy a cheaper property or look for government schemes that might help him. If he can, it may be better to buy sooner, while mortgage rates remain low.

"The average property price in Nottingham is £203,684, according to Zoopla, a property website. Flats sell for an average of £141,712, so he could buy a cheaper property."

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