The most affordable homes on average are located in Bradford, according to research conducted by Money.co.uk.
It revealed that there are 39 cities in the UK where the average value of a deposit is less than £15,000.
Of these, the most affordable is Bradford, where the average property price is £133,150.
With the help of the government’s new guarantee scheme, the average buyer deposit in the city would total £6,658.
This is around a quarter of the average Bradford annual salary.
In contrast, those wanting to secure a property in Bradford with a deposit of 15% would be required to put down £19,973.
Outside of Bradford, buyers looking for an 85% LTV mortgage, would need to fork out a deposit of over £20,000 across all UK cities.
Research also found that Carlisle, Aberdeen City and Sunderland require a deposit of £8,143, £8,101 and £7,426, respectively.
London is the least affordable city to buy a property in.
However, despite the higher income to deposit ratio, those hoping to purchase a home in London will benefit the most from the 5% deposit scheme, outlined Money.
The average property in London totals £644,631. On average, prospective buyers would have to save up almost £96,695, with an 85% LTV mortgage.
The 5% ask of £32,231 elevates the pressure of saving an additional £64,464.