First-time buyers looking to secure a house in one of the UK’s largest 20 cities have to put down an average deposit of £10,606, according to Beehive Money.

Average deposits fall to £7,605 for a flat or maisonette, says the savings app, owned by Nottingham Building Society, which analysed Land Registry house prices across the county’s largest cities by population.

The most affordable cities are Hull where the average 5% deposit across all properties is £6,066 and Preston where the 5% deposit for flats or maisonettes is £3,820.

The most expensive city is London where the 5% deposit needed across all property types is £25,514 and £21,535 for flats or maisonettes.

Other cities that require five-figure house purchase deposits include Birmingham (£10,412), Bristol (£15,388), Leicester (£10,314), Edinburgh (£15,416), Leeds (£10,647), Cardiff (£11,752), Manchester (£10,328), Coventry (£10,149) and Reading (£14,814), which the report says highlights “the strength of the property market and cost of housing across the UK”.

The government launched its mortgage guarantee scheme in April, to increase the number of 95% loan-to-value mortgages available for FTBs and people looking to move up the ladder.

Moneyfacts data on 15 September showed that over 200 95% LTV mortgages are now available across the full range of fixed, discounted, and variable rates compared to just 34 in March.Beehive Money head Ben Osgood says: “It generally remains that the bigger the deposit the more competitive the rates, however raising a deposit is only the start and first-time buyers have to consider how they will afford the mortgage throughout its term. They should speak to an expert mortgage adviser to get the right advice.

“Saving a deposit makes owning that first property possible. The average 5% deposits shown in the data are still a substantial amount to save, and other property buying and moving costs should also be factored in, but it can be achievable with the right savings habits.”