Research released by the Post Office reveals that 28% are either in negative equity, owing more on their property than it is actually worth, or find that their home has not increased in value enough for them to climb onto the next rung of the property ladder.

Many of these homeowners will have bought their homes in the years preceding the credit crisis, using the very high loan-to-value mortgages which were widely available at the time, but have since all but disappeared from the market. The cost of moving home is another obstacle, cited by 30%of would-be second-steppers.

They estimate that they would need an average of £7,279 simply to pay for Stamp Duty and solicitors costs. That figure rises to £12,313 for buyers in London.

Little wonder then that 8% of second-steppers plan to ask their parents for financial help to move; 11% will ask a partner for assistance; 7% hope for an inheritance to fill their financial gap and 6% plan to take on an extra job to pay for their move.

John Willcock, head of mortgages at Post Office, said:

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“We are often reminded of first-time buyers’ struggle to get onto the property ladder. However, it’s clear that second-time buyers are finding it difficult too. Stagnant or decreasing property prices in many areas of the country, the high costs involved with moving and lack of available properties on the market have meant too many people are unable to move up the property ladder.

“Relying on the bank of mum and dad is not just the preserve of first-time buyers – second-time buyers are also looking to their parents to fund the move up the ladder. In the years before the financial crisis it was almost guaranteed your property would go up in value enough to move into a second, larger home, but many are finding that their homes just aren’t increasing enough.”

Almost a fifth ( 17%)of would-be second steppers are trapped in their current property because they simply can’t sell it while 16% can’t find a property they want to buy.