“The Help to Buy Equity Loan data shows that the scheme is helping first time buyers, with 81% of purchases through the programme. Aldermore’s own data shows that a third of our applicants are aged between 26 and 30, with one in five living in the North West and 73% of all applicants are first time buyers. The extension of Help to Buy to 2020, alongside new plans for starter homes and shared ownerships schemes, combine to give younger applicants a range of options they can choose from when looking to get onto the housing ladder.
“With the idea of the ‘average applicant’ now becoming obsolete, introducing other options for first time buyers who might not fit the mould of a traditional customer, such as those who are self-employed, will give a boost to the housing market as morepeople will be able to find mortgages tailored to their individual needs.”
Notes to Editors:
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