The findings highlight the barriers facing aspiring homeowners in Scotland, particularly those who are self-employed, have variable incomes, have experienced credit difficulties, or do not fit a standard high street lending profile.

The findings, from Pepper Money’s Scotland Specialist Lending Study, coincide with the lender’s launch of its first charge mortgage proposition in Scotland, expanding its specialist lending support for brokers and customers across the country.

Survey findings reveal the outlook is even more pessimistic among people with more complex incomes, such as those who are self-employed, contractors or have variable earnings, with 55% of non-homeowners in this group believing they will never be able to own a home.

Despite this, there remains a significant proportion of people who want to get onto the property ladder. More than one in ten (11%) Scottish adults say they would like to buy a home but do not believe it’s possible for them, rising to 15% among those with adverse credit.

A further 25% of Scottish non-homeowners say they do not feel financially ready to purchase a property, while almost one in five (19%) believe it will take more than five years before they are in a position to buy.

The research also suggests that the aspiration to become a homeowner remains strong among some groups who face more complex financial circumstances. Seven per cent of Scottish adults say they plan to buy a home to live in within the next year, rising to 11% among self-employed people and 8% among those with adverse credit.

The findings also underline the affordability pressures affecting prospective buyers. More than half (57%) of Scottish adults believe house prices are increasing too quickly, while 39% say the cost of living has affected their ability to buy a home. Rising household bills are cited by 30% as a factor affecting their ability to enter the market.

For those who have experienced adverse credit, the barriers can be particularly pronounced. More than four in ten (42%) say they are concerned about securing a mortgage, while the same proportion are concerned about the mortgage application process.

The data also points to a clear opportunity for mortgage brokers to support customers who may assume homeownership is out of reach. Almost a third (31%) of Scottish adults say they would want to use a mortgage broker when buying their next home, rising to 41% among those with adverse credit. Among people with adverse credit who hope to buy within the next 18 months, this rises to 61%.

Paul Adams, director of sales at Pepper Money, said: “These findings show a clear gap between the aspiration to own a home and what many people in Scotland feel is achievable. Those who are self-employed, have variable income or have experienced credit difficulties can feel particularly locked out of the mortgage market, but this shouldn’t be the case.

“As we launch our first charge mortgage proposition in Scotland, Pepper Money will work closely with brokers to help more customers understand what may be possible through specialist lending and what they need to do to take their next step towards homeownership.”