When in low gear or backing up there is a loud squealing noise.

A friend said it sounds like the wrong size pad for the steering wheel? Searching the internet it sounds more like brakes, even though the squeal is there when my foot is not on the brakes? It is only present at low gear, once in third it is gone. I purchase the vehicle in August and noticed the squeal then but only when I was going in reverse. I was hopeful it would disappear. Not the case, currently the squeal is there when I start up the vehicle in the morning and when I am in 1st or 2nd gear.
Any insight would be greatly appreciated.
Thanks,