THESE are some of the houses around Bradford that could be yours thanks to the Government’s new five per cent deposit loan scheme - but there's a catch.

The new five per cent deposit home loan guarantee scheme will be available to current homeowners as well as first-time buyers looking to buy a house for up to £600,000.

However, there is a slight catch as the smaller deposit means you will have to borrow more, meaning you need to have a higher annual salary to afford a more expensive house.

The initiative will be available to lenders from April and is designed to increase the appetite of mortgage lenders to offer high loan-to-value lending to creditworthy customers across the UK.

Under the scheme the Government will offer to take on some of the risk of low deposit loans, meaning lenders would have some protection from potential losses.

However, with the rough estimate of people being able to borrow four and a half times their annual salary, if you’re wanting to buy a house at the upper range of the bracket you will need a sizeable wage packet to match.

At the upper end of the scale, to buy a £550,000 house, like this five-bedroom mansion in Tyersal, you would need a deposit of £27,500 and to borrow £522,500, meaning an annual salary of at least £116,111 would be required.

Bradford Telegraph and Argus: This luxurious mansion is in Tyersal. Photos: RightmoveThis luxurious mansion is in Tyersal. Photos: Rightmove

At the bottom end of the scale, the cheapest house currently for sale (not by auction) in Bradford is this one-bedroom cottage in Queensbury on the market for £49,000. With a £2,450 deposit you would need to earn £10,344 a year to have a mortgage accepted.

Bradford Telegraph and Argus: This cottage is described as perfect for first-time buyers. Photos: RightmoveThis cottage is described as perfect for first-time buyers. Photos: Rightmove

The average house price in Bradford is just shy of £138,000, the cost of this property in Lidget Green. To buy this house, with a £6,850 deposit, you would need a salary of £28,922.

Bradford Telegraph and Argus: This is what Bradford's average house price gets you. Photo: RightmoveThis is what Bradford's average house price gets you. Photo: Rightmove

You can view all the houses currently for sale in Bradford by visiting Rightmove.