First-time buyers are struggling to raise deposits
Just under half of those entering the property market will borrow the deposit from a bank or building society, even though in most cases they could get a lower interest rate on a 100% mortgage than a personal loan.
The survey, by the Association of Investment Trust Companies (AITC), also found that 19% of those questioned planned to borrow the deposit money from their parents.
First-time buyers are finding it increasingly difficult to get a foot on the property ladder as house prices continue to soar ahead of wage increases - up 14% in the year to February.
In the same month, the average house price rose above £100,000 for the first time.
"Buying property is a huge financial commitment," said Annabel Brodie Smith, communications director at the AITC.
"If you can put down a large deposit then you can either afford a larger property or negotiate a better mortgage deal with cheaper repayments."
Saving hard
The AITC's survey suggested only half of those looking to buy their first home were currently saving, despite the same percentage believing they would need to save up for five years to afford a deposit.
Among homeowners, 24% questioned said they had borrowed their deposit from a bank, while 10% said they had borrowed the money from their parents.
One in four put down a deposit of 5% or less on their home, with 18% paying between 6% and 10%.
A quarter of homeowners questioned said they wished that they had put a bigger deposit down on their mortgage, in order to reduce monthly payments.
The poll was conducted by BRMB International who questioned 2,005 people by telephone during February.