10 South Tyneside properties under £100k you could own under the 'Generation Buy' plan

All of these South Tyneside homes are on the market for less than £100,000 – and you only need a 5% deposit under the Government’s scheme

By Tony Gillan

Published 11th Oct 2020, 07:00 BST

The Prime Minister’s promise to let first-time buyers get mortgages with just a 5% deposit could see some interesting results in the borough.

Boris Johnson aims to turn ‘generation rent’ into ‘generation buy’ – meaning any property on the market for £100,000 or less could be secured with a £5,000 deposit.

He told the virtual Conservative Party conference our 'broken housing market’ needs fixing by helping young people onto the property ladder who cannot otherwise afford deposits.

Experts have suggested the plan could cost tens of billions of pounds – and even the PM admits reforms will take time.

But the plan has created some excitement among young people planning to buy their first home.

So here are 10 homes for sale in South Tyneside, all for less than £100,000.