“The rise in house purchase lending in October of 8% is a positive sign, with first time buyer (FTB) activity really starting to shine. There has been steady growth in FTB lending over the year, with a 10% rise on September and October last year, and with the extension of the Help to Buy scheme and the prospect of a rate rise pushed back, many FTBs, who tend to be more price sensitive, now have the confidence to press ahead with their plans to get on the housing ladder while borrowing costs are at a record low.
“Aldermore’s data on Help to Buy, shows that our average applicant is a FTB from the North West. Strong demand, combined with a fall in properties coming onto the market for 10 consecutive months as a result of housing supply pressures is pricing some FTBs out, particularly in the South East, with double-digit price rises seen in London now extending to commuter towns.”
For further enquiries, journalists can contact:
Johnathan Priestley, Cicero Group
Phone: 0207 297 5954
Rachael Snelling, Aldermore
Phone: 0208 1853 102
Notes to Editors:
For further information about Aldermore, our financial backers and our PR contacts, please review our Notes to Editors page.