Average H2B buyer in 2pc SDLT band
The lender found that the average purchase price for a property bought through the Help to Buy scheme with Aldermore was £143,800, well within the £125,000 to £250,000 2% band.
Before the Chancellor’s stamp duty reforms buying a property at £143,800 would have incurred a 1% charge of £1,438.
Additionally the challenger banks statistics found that the majority of its Help to Buy applicants were aged between 30 and 34 (27.8%) and located in the North West. More than two thirds (69%) were first-time buyers.
Applicants had average total incomes between £30,000 to £40,000, while more than half of applications were on a joint basis (58%).
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.”