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First-time Buyer

Help to Buy 2 applicant household income between £30-40k – Aldermore

Lucinda Beeman
Written By:
Lucinda Beeman

Lender Aldermore said the majority of its Help to Buy: mortgage guarantee applicants are 30 to 34-year old first-time buyers with a household income of less than £40,000.

The Stamp Duty changes announced in the Autumn Statement are also helping the majority of the lender’s applicants as the average purchase price of £143,800 drops them into the lower two per cent tier.

Charles Haresnape, managing director mortgages and commercial lending at Aldermore said: “It is great to have been an active participant in the Help to Buy: mortgage guarantee scheme for a year and the scheme is clearly a continuing success, with those most in need of a boost to get onto the housing ladder, having benefitted from the scheme.

“It is clear from our figures that first time buyers and those on moderate incomes are being helped the most. Alongside the new Stamp Duty reforms and the Government’s Starter Home Initiative, there is much for prospective buyers to celebrate.”

Yesterday, the Prime Minister launched a consultation into a scheme targeting those under 40 who have never owned their own homes.

The Starter Home Initiative scheme, set to launch at the start of 2015 after being brought forward by six months, will offer a discount of 20 per cent on homes built on ‘used or unviable’ brownfield sites.

Those interested can register form the start of 2015.