Deposits among cheapest

HOME-BUYERS in Hartlepool need to find one of the lowest deposits in the country, according to a new study.

People buying a house in the town need to find a deposit of £16,934, a new study of 30 areas in England and Wales by housing investment and shared equity mortgage provider Castle Trust has found.

It found the average deposit needed to put down 20 per cent of the purchase price is £26,468 – but it can be as high as £72,760 or as low as £14,470.

Hartlepool is the fourth lowest, behind Blackburn at £14,470, Blackpool on £15,707 and Oldham with £16,386.

The the other end of the scale homebuyers in London need an average of £72,760 in savings or equity to secure a 20 per cent deposit.

Castle Trust is advising homebuyers, and parents or family who may be helping children on to the housing ladder, to consider all their options when raising deposits.