New graduates will find it harder than ever to get on the housing ladder.

The warning comes from Hamptons, which says that the new rules on maintenance grants will make it more difficult for graduates to save for a deposit.

Hamptons does say, however, that those who do save will be able to take advantage of the 25% government bonus available with the Help to Buy ISA.

Six of the UK’s biggest lenders have signed up to the ISA scheme.

Barclays, Lloyds, Nationwide, NatWest, Santander and Virgin Money will offer the new product from December 1.

The scheme allows prospective first-time buyers to save up to £200 per month, with the Government topping up the amount by an additional £50.

The maximum Government contribution will be £3,000 per ISA – effectively, £6,000 for a couple where each has a Help to Buy ISA.

The bonus will be available on homes up to £450,000 in London and up to £250,00 outside London.