IT used to be the case that young people would find a job and after a couple of years of hard saving would have enough cash for a deposit on a flat.

The meltdown in the worldwide financial sector put an end to that with many banks refusing to lend cash to first time buyers.

Those which did demanded eyewatering deposits of up to 25% of the cost of the property meaning buying their first home was nothing but an impossible dream for many people.

For while they could afford the mortgage payments, they could not raise the huge sums they had to hand over before getting a loan.

The alternatives were to stay put with parents or pay more in rent than the cost of a monthly mortgage payment.

However help is now at hand thanks to two city council backed schemes which will help house hunters onto the property ladder and ensure there are good quality affordable homes to rent.

Last week, city council leader Gordon Matheson revealed a new housing strategy which will result in 25,000 homes being built over the next decade.

Council owned land which has been lying derelict, sometimes for decades, will be sold to developers of affordable housing, shops which have been lying empty and neglected for years will be converted into homes and 20 council owned sites will be released to housing associations in the first year of the People Make Glasgow Home project.

Derelict sits are a blight on the landscape and too often become rubbish dumps or drink and drugs dens.

Sending in the bulldozers and building new homes will breathe new life into areas which have all too often been regarded as no-go areas.

The new Gorbals and the Athletes' Village are both examples of award winning housing developments which have created desirable new communities in previously rundown areas.

But unless bankers develop a heart, it may still be difficult for some people to be able to raise the deposit necessary to secure a property.

To overcome that problem, the city council and Glasgow Credit Union have developed a two year pilot scheme which will provide house hunters who qualify with 100% mortgages.

All Glasgow Credit Union mortgages have no set up, arrangement or product fees which means that there is no additional financial outlay required to set up the mortgage.

There will also be an incentive to buy homes which have been lying empty for some time with the council offering to meet the first £500 of the costs incurred by buyers.

The only scheme of its kind in Scotland, it is likely other parts of the country will be keeping a close eye on Glasgow to see how it works.

With any luck, it will be a success and give young people the chance to own their own home.