68% of Aldermore HTB applicants are first-time buyers
By Beth FisherFollowing the Governemnt's statistics on the Help to Buy Scheme this morning, Aldermore Bank has announced that a colossal 68 per cent of its Help to Buy applicants are first-time buyers…
Following the Governemnt’s statistics on the Help to Buy Scheme this morning, Aldermore Bank has announced that a colossal 68 per cent of its Help to Buy applicants are first-time buyers.
Figures released by Aldermore today have shown that 45 per cent of applicants out of the 6,691 decision in principle cases are earning less than £40,000. It also showed that 22 per cent of applicants are earning less than £30,000.
It was stated that the top locations where Aldermore customers are buying homes using the Help to Buy Scheme include the North West, South East, East Midlands and East Anglia.
In terms of age, 66 per cent of applicants are aged between 21 and 35, while only 18 per cent of applicants are above the age of 40.
Nearly three quarters (72 per cent) are for purchase prices of between £40,000 and £180,000, with only 8 per cent of applicants with purchase prices of above £260,000.
Commenting on the figures, Charles Haresnape, Mortgages & Commercial Lending Managing Director, said: “It is clear to see, both from today’s figures from the Treasury and ourselves, that the Help to Buy Scheme is still helping those customers who need it most; first-time buyers, those on lower incomes and those from areas such as the Midlands and the North.
“Home-ownership is a proud part of our British heritage and it is important to keep the aspirations of young people alive with schemes such as this.”
Keywords: Aldermore Bank, lender, lending, bridging finance, commercial finance, Charles Haresnape, Government, Help to Buy, scheme, UK, applicants, mortgage