With great schools, the seaside and good parks, Brighton and Hove has always been a desirable place to live.

This week, David Cameron proposed a 95% mortgage for first time buyers. Peter Truman investigates whether the new measure will mean more people will be able to get on the property ladder in the city.

An Englishman's home is his castle, so the saying goes.

And while the turreted beauty of Arundel or the perfect moat of Bodiam may still be a flight of fantasy, the Government’s new measure is hoping more people in the city will be able to have their own domain.

First time buyers can put down just a 5% deposit, with the government getting banks to guarantee the next 15% of the property’s value.

The Help to Buy scheme could be invaluable in an area as desirable to live in as Brighton and Hove.

Good school provision, beautiful coastline and local amenities have meant house prices have always been high.

In the past this could have left first time buyers priced out of the market, with deposits of 20% meaning you could face having to have £40,000 for a one bedroom flat.

It is no wonder then that estate agents are welcoming the move, though they remain cautious with the memory of the recent crash still fresh in their minds.

James Epps, President of the Brighton and Hove Estate Agents Association said: “It is great to see they are trying to help first time buyers.

“This should encourage people especially first time buyers to buy. It sends out a good message.

“At the moment it is hard to get on the ladder. It will be interesting to see how it pans out. It is a positive message so long as it does not cause problems in the future like we had.

“Whether it does, remains to be seen. They will have thought it through we hope. It will be interesting to find that out.”

It is hoped the move will also encourage more people to sell their properties. Mr Epps explained: “I think the market here in Brighton and Hove has been strong for the past six months. It has been quite an active market but not quite as much property on sale as we would have liked.

“Demand has been there and we have been getting some quite good prices. Asking prices are going up quite repeatedly at the moment. But it is off the back of more of a buyer’s market and not a lot of property on sale.

“But the market has been good. This is an area people want to buy in. Prices have always been high near good schools or in the city centre. There are lots of people who want to buy.

“Hopefully it will work in less affluent places too. The problem for most agents is not the lack of buyers. They want more properties to sell.

“People have been buying as an investment and holding onto them instead of putting the money in a bank.

“But the scheme will hopefully get more people to put property on the market, thinking they will get a better amount as there are more buyers.”

Marc Cox, partner at Mishon Mackay, believes the move could kick-start a progression to better lending from bankers.

He said: “I have always believed a 95% mortgage was the normal amount. I do not see it as bad lending practice.

“It was the norm when I bought my first place 18 years ago. And you even got 5% cashback on completion. I don’t think a 5% deposit is irrational with today’s prices.

“I am surprised the Government has had to do this to get the banks to lend. Hopefully we will see a return to proper lending of 90-95% mortgages but this is the way the banks are at the moment.”

Mr Cox hoped the Help to Buy scheme would mean those facing high prices for properties in the city would finally be able to buy.

He added: “It will help a lot of people especially in the south east where house prices are so high. If you look at £175,000 to £200,000 for a flat, 20% of that is unachievable.

“To put down 5% is still quite a challenge but will help people get on property ladder and get the market going again.

“There is a lot of talk about the bubble we are supposedly in but there is a massive shortage of property on the market.

“We want to see more transactions rather than price rises. Hopefully with this initiative more people will come onto the market and prices will soften and there will be more stock available.”

While it remains to be seen how successful the scheme is, and there is still caution over the seemingly never-ending rise in house prices, there is a hope and belief this move could restore confidence to the banks and sellers as first-time buyers emerge from the shadows of hefty deposits.

And in time it may cost not a lot for your own little Camelot.

There's no other way

Mother of one Sarah Lewis Hammond is one of those looking to take advantage of the new scheme when it comes into effect in January.

She wants to get on the property ladder with her husband but a series of redundancies has meant they have been unable to do so until now.

The couple are currently living in Ditchling, having been priced out of the high rents in Brighton.

They are hoping the 5% deposit will mean they will finally be able afford to buy a property in the city.

She said: “We are looking at using the scheme. We cannot get a mortgage any other way.

“We have been told we would need at least a 30% deposit to get a mortgage from a bank and in Brighton that is a lot of money - £50,000 or £60,000.

“Who has that sitting in their back pocket? So we are looking at the 95% mortgage.

“Some agents said we would qualify but there was no guarantee. With the Government scheme you have that guarantee.

“It will help us and it is the only way we can buy a property.”