“The 13 per cent spike in first-time buyer borrowing compared to July is encouraging, and chimes with research Aldermore conducted both directly before and after the referendum that showed first-time buyer confidence hadn’t been affected by the referendum vote. Just over a million first-time buyers are planning to buy their first property in the next 12 months, but difficulties in raising a deposit are likely to continue, particularly with the closing of the Help to Buy: Mortgage Guarantee, as many lenders are likely to move away from the 95% LTV space.
“There is clearly a great deal for demand for 95% products, but the number on the market has been steadily falling over the past 10 years, which will only make the dream of property ownership that bit more difficult for many.”
Notes to Editors:
For further enquiries, journalists can contact:
Rachael Snelling, Aldermore
Phone: 0208 1853 102
Johnathan Priestley, Cicero Group
Phone: 0207 297 5954
Aldermore Group PLC is a specialist lender and savings bank offering straightforward products to Small and Medium-sized Enterprises (SMEs), homeowners, landlords and individuals, who we believe are often poorly- or under-served by the wider market.
Aldermore has no branch network but serves customers and intermediary partners online, by phone and face to face through its network of regional offices located around the UK.
Building on its core values of being reliable, expert, dynamic and straightforward, Aldermore aims to deliver banking as it should be.
Established in 2009, Aldermore has grown significantly. At the end of June 2016, lending to customers stood at £6.8 billion and customer deposits totalled £6.5 billion.
For more information, please visit www.aldermore.co.uk
Aldermore Bank PLC is an operating entity of Aldermore Group PLC. In March 2015, Aldermore Group PLC’s shares (ALD.L) listed on the Main Market of the London Stock Exchange.
Aldermore Bank PLC is regulated by the Prudential Regulation Authority and the Financial Conduct Authority and is registered under the Financial Services Compensation Scheme.