Following government Help to Buy statistics published today, Aldermore has revealed figures showing that 68% of its Help to Buy 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.
72% are for purchase prices of between £40,000 and £180,000, with just 8% of applicants with purchase prices of above £260,000.
Charles Haresnape (pictured), Aldermore Bank’s mortgages and 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.”