Will someone have to die before you own your own home?

One in six millennials say they've got no chance of buying their own property until a loved one dies.

Around half of these people are looking towards grandparents for this windfall, but four in ten say they'll only get their own place when their parents die.

One in ten expect this to happen in the next ten years, with another 10% saying they might have to wait between ten and twenty years.

There's no doubt that it's a cash-strapped generation - more than half the people polled in the money.co.uk survey claim they can barely cover their day-to-day living costs.

But, says Hannah Maundrell, editor in chief of money.co.uk, "Getting on the property ladder may not be the impossible dream many people think it is. There are a surprising number of schemes that can help those who can't afford to get a big deposit together, many of which they probably don't even know about."

The survey revealed that many millennials are unaware of their options. A quarter hadn't heard of shared ownership schemes, for example, and the same number didn't know about the help to buy ISA. Meanwhile sixteen percent hadn't heard of the help-to-buy mortgage scheme.

Unsurprisingly, two-thirds were aware that their parents could gift them money, but only 57% of millennials knew that their parents can 'guarantee' their mortgage payments for them.

"If parents can afford it, 'gifting' money to children or grandchildren can often be a good way to give kids a tax free early inheritance to help with the deposit," says Maundrell.

"Alternatively, parents that are confident in their kids' financial capability can be a 'guarantor' for their mortgage - this might help get them get the deal they need."

However, parents and grandparents should be wary of giving too much.

"The average retirement is now much longer than past generations and people's lifestyle and associated costs are likely to change over this period," says Richard Rowney, life and pensions managing director of insurer LV=.

"It is important that those approaching retirement choose to structure their income in a way that offers them enough financial flexibility to enable them to remain generous, but also adapt to their changing needs."

Earlier this month, housing minister Gavin Barwell suggested that it should become the norm for people to miss a generation out in their wills. Leaving money to grandchildren rather than children would help them get on the property ladder, he said.

But number 10 rejected this suggestion, with Theresa May's deputy spokesman commenting that the remarks were 'certainly not policy'.

What's stopping millennials who want to buy?

53% can't afford to save
32% can't afford the area they want to live in
19% are scared of such a big financial decision
12% are worried about being rejected by the mortgage provider
12% worry about the impact of missed credit card payments on their credit records
12% don't know what to do first
9% do not have the discipline to save
7% have unauthorised overdraft blemishes on their credit records
4% have county court judgments