The growing burden of student debt combined with high house prices is leaving graduates out in the cold when it comes to buying their first home.

Research by Scottish Widows found that two-third of graduates cannot afford their own home years after having completed their studies.

But despite having no money to buy a property, many graduates are spending up to £150 a week on rent.

Scottish Widows says it could cost £98 a week to cover a £100,000 mortgage.

Over a million graduates claim they will not be able to get on the property ladder for another ten years with 500,000 saying they will never be able to afford their own bricks and mortar.

Almost one in ten also claim that they would not have gone to university if they had known their subsequent debts would prevent them buying a home.

Yet the recent slowdown in the housing market and the cut in interest rates should improve graduates' property prospects, say experts.

Murdo McHardy, of Scottish Widows Bank, said: "University should mean that the property market is more accessible. Not everyone can rely on friends and family to help them buy their first house and there is a real need for more assistance from both lenders and the government when it comes to first-time buyers."

Twenty-two per cent fewer graduates under 30 claim to find it difficult to set money aside for a deposit, while around twenty per cent fewer than last year feel that prices are too high.

Over half also say the government's Homebuy scheme would give them a helping hand but one in three also claimed that doing away with deposits would be extremely useful.