- 68% of Aldermore applicants are first-time buyers;
- 48% earn less than £40,000 in total;
- 66% are between 21 and 35-years-old;
- 72% are for purchase prices of £40,000 to £180,000
Following Government statistics released on the Help to Buy Scheme this morning, Aldermore is releasing figures showing that 68% of its HTB applicants are first-time buyers.
Of the 6,691 decisions in principle cases that have been offered by Aldermore*, 48% of applicants are earning less than £40,000 in total, while 22% of applicants are earning less than £30,000.
The top locations where Aldermore customers are buying homes using the Help to Buy: mortgage guarantee scheme include the North West, South East, East Midlands and East Anglia.
In terms of age, 66% of applicants are between 21 and 35-year-old, while only 18% of applicants are above the age of 40.
Nearly three quarters (72%) are for purchase prices of between £40,000 and £180,000, with just 8% of applicants with purchase prices of above £260,000.
Aldermore Bank Mortgages & Commercial Lending Managing Director Charles Haresnape says:
"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."
*Information correct as of the 28th August 2014 based on 6,691 decisions in principle cases.
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