According to data released by Abbey, the typical first-time buyer now has a mortgage of some 130,000 pounds - almost twice the amount of the 75,000 pounds average taken out in 2003. Meanwhile, more than half of consumers (53 per cent) surveyed are said to have opted for secured loans worth more than 150,000 pounds - up by 16 per cent compared to four years ago. Findings from the bank also indicated that more Britons are looking towards high loan-to-value products.

In 2003, those borrowing more than 75 per cent the value of their property were said to account for about two-thirds of buyers. However, this is now reported to make up 80 per cent of consumers' borrowing choices.

Commenting on the figures, Nici Audhlam Gardiner, head of mortgages for Abbey, said: "We are fully aware of the difficulties first-time buyers have in getting on to the property ladder. Our research shows that they have to borrow more and more to get even a small foot on the ladder".

Consequently with mortgage costs increasing, those buying a property could be well advised to take the time to consider the full price of their monthly secured loan outgoings. In research carried out by mform, the average two-year discount rate product taken from the ten best deals is reported to be 16,526 pounds and 16p. However, the average price of the best fixed-rate offers is stands at 18,223 pounds 20p.

Francis Ghiloni, marketing and business development director for the online mortgage firm, said: "Recently mortgage customers have understandably gone for certainty in the face of rate rises and that has meant fixed-rates have dominated the market. But in July we have seen the trend reversed when customers have seen the true costs involved.

People who simply look at fixed-rates to the exclusion of everything else are missing out on potentially good deals. The fixation with fixed-rates is not necessarily healthy". Mr Ghiloni added that since discounted products currently offer borrowers "good value", consumers could be set to benefit further if the Bank of England's monetary policy committee decides to lower interest rates over the course of 2008.

Meanwhile, prospective borrowers were advised not only to consider the rate of interest applicable for secured loan products but also the cost of any associated "fees and other features".

These sentiments were echoed earlier this month by Lisa Taylor, analyst for Moneyfacts She claimed that those looking to buy a home should not solely rely on the price comparison charts used by building societies and banks as such lenders often disguise the true cost borrowers will have to make in monthly secured loan repayments, by concentrating on interest rates rather than including the value of various charges consumers will also be liable to pay.

The financial services company reported that since 2005, some credit providers have increased their mortgage fees by over 600 per cent. Meanwhile, one supplier is now said to be charging about 3,000 pounds via different costs and levies - an increase from the 499 pounds recorded two years ago.