In last week’s budget, Chancellor Rishi Sunak announced the 95% mortgage guarantee scheme.
It will be available from April 2021 and it means that the Government will offer a guarantee on the portion of the mortgage over 80% – so for a 95% mortgage, the Government would be the guarantor of 15%.
Both current homeowners and first-time buyers will be eligible for the scheme, but the property they are looking to purchase should cost no more than £600,000.
Here are 12 houses in South Tyneside you can buy with a £5,000 or less deposit.
Both current homeowners and first-time buyers will be eligible for the scheme, but the property they are looking to purchase should cost no more than £600,000.
5. New chapter
This semi-detached home in Oswald Close, Boldon, is on the market for 95,000. Photo: Rightmove
6. Moving
This three bedroom home in Jarrow is on the market for £90,000. Photo: Rightmove
7. Three bedrooms
This home on Moreland Road, South Shields, is on the market for £90,000. Photo: Rightmove
8. End of terrace
This three bedroom property on Hopkins Walk in South Shields is on the market for £85,000. Photo: Rightmove