Young people looking to buy their first home could be offered a further helping hand under controversial plans unveiled by Nick Clegg.
The Deputy Prime Minister wants to see more people step onto the property ladder and intends to let those struggling to raise the money for a deposit unlock their parents' retirement funds to help secure a mortgage.
Hundreds of thousands of people would be eligible for the arrangements, which are expected to be in operation by 2015.
Mr Clegg unveiled the plans on the second day of the Lib Dems' autumn conference in Brighton, during which he also took a thinly-veiled swipe at Chancellor George Osborne, insisting the junior coalition partner would block "wild" Tory calls for £10 billion more to be slashed from the welfare budget.
"We have thousands of young people who are desperate to get their feet on the first rung of the property ladder but deposits have doubled and the number of young people asking help from family members has doubled," he said.
"We (the Government) are going to work out ways in which parents and grandparents who want to help their children and grandchildren buy a property of their own, we are going to allow those parents and grandparents to act as a guarantee, if you like, so their youngsters... can take out a deposit and buy a home."
How does it work?
Details of the scheme are yet to be finalised, but it would see the lump sum element of pensions used as collateral for raising home loans. This would then potentially free up more cash for young people, which could be used to cover things like upfront costs when moving.
However, if a child defaults on mortgage repayments then parents or grandparents will lose their lump sum, although the rest of their retirement fund would not be affected.
This has resulted in some experts raising concerns about the proposals, stating it risks leaving people short and worse off when they retire.
When it comes to helping people buy a new property, the NewBuy Guarantee scheme is proving to be quite successful.
It gives home buyers with smaller deposits a helping hand to buy a newbuild property and already has 1,500 reservations, despite the fact it has only been up and running for six months.
First-time buyers and home movers can therefore purchase a home with as little as a 5% deposit.
More than 30 builders now sell homes using NewBuy and a sixth lender, Aldermore, recently started offering NewBuy mortgages alongside Halifax, Santander, Natwest, Nationwide and Barclays.