HOUSEBUYERS can get onto the property ladder and buy a home in Dorset with a 95 per cent mortgage under a new Government scheme.

The 95 per cent mortgage guarantee scheme, which launched on April 1, allows people to purchase properties with as little as a five per cent deposit.

The scheme is aimed at first-time buyers with low deposit or limited equity or those looking to get onto the property ladder.

But what you need to earn to be able to afford a home in areas of Dorset varies depending on the area. At least a £10,000 deposit would be required to help purchase a mortgage.

However, the scheme came under scrutiny when it was recently revealed that most of the major banks have not yet agreed to lend for purchases of new builds.

The five per cent deposit means you will need to borrow a 95 per cent mortgage and mortgage providers generally offer borrowers 4.5 times their salary. For example, for a property at £200,000, you would require a £10,000 deposit and an annual salary of roughly £42,000.

Of course, the best way to buy a house is to have a ‘partner in crime’, such as your other half or friend, and combine your savings and salaries to be able to afford the deposit and the monthly mortgage costs. A donation from the ‘bank of Mum and Dad’ may also be very helpful.

Broadly speaking, the average house price in Dorset is £352,603, which means a house buyer would require a deposit of £17,630 and an annual salary of £74,438.

Broadstone near Poole is the area with the highest deposit at £24,034 with an annual salary of £101,478 needed to buy a house in the area. Meanwhile Portland is by far the most affordable, with a £10,628 deposit and annual salary of £212,553.

In order to see what deposit and salary you would require to purchase a home in areas of Dorset, we have used Zoopla’s average house price and calculated the maths to see what you need to have before buying a new home.

Beaminster – Deposit of £16,357 and an annual salary of £69,061. The average house price in the area is £327,132.

Bere Regis – Deposit of £16,649 and an annual salary of £70,294. The average house price in the area is £332,973.

Blandford Forum – Deposit of £16,720 and an annual salary of £70,598. The average house price in the area is £334,414.

Bournemouth – Deposit of £16,852 and an annual salary of £71,183. The average house price in the area is £337,042.

Bridport – Deposit of £16,820 and an annual salary of £71,019. The average house price in the area is £336,406.

Broadstone – Deposit of £24,034 and an annual salary of £101,478. The average house price in the area is £480,684.

Cerne Abbas – Deposit of £17,636 and an annual salary of £74,464. The average house price in the area is £352,725.

Charmouth – Deposit of £19,735 and an annual salary of £83,325. The average house price in the area is £394,699.

Christchurch – Deposit of £21,101 and an annual salary of £89,091. The average house price in the area is £422,012.

Dorchester – Deposit of £17,511 and an annual salary of £73,934. The average house price in the area is £350,216.

Ferndown – Deposit of £20,721 and an annual salary of £87,486. The average house price in the area is £414,411.

Gillingham – Deposit of £13,201 and an annual salary of £55,737. The average house price in the area is £264,016.

Lyme Regis – Deposit of £22,574 and an annual salary of £95,313. The average house price in the area is £451,482.

Poole – Deposit of £17,280 and an annual salary of £72,960. The average house price in the area is £345,602.

Portland – Deposit of £10,628 and an annual salary of £44,872. The average house price in the area is £212,553.

Shaftesbury – Deposit of £16,417 and an annual salary of £69,317. The average house price in the area is £328,342.

Sherborne – Deposit of £17,119 and an annual salary of £72,281. The average house price in the area is £342,385.

Sturminster Newton – Deposit of £16,624 and an annual salary of £70,190. The average house price in the area is £332,480.

Swanage – Deposit of £20,035 and an annual salary of £84,592. The average house price in the area is £400,700.

Verwood – Deposit of £18,867 and an annual salary of £79,662. The average house price in the area is £377,345.

Wareham – Deposit of £18,980 and an annual salary of £80,141. The average house price in the area is £379,613.

Weymouth – Deposit of £14,161 and an annual salary of £55,523. The average house price in the area is £264,016.

Wimborne – Deposit of £20,624 and an annual salary of £87,079. The average house price in the area is £400,700.