Help to Buy 2 lowers the average deposit for first time buyers

Fri, 07 Nov 2014

Help to Buy 2 lowers the average deposit for first time buyers
One of the biggest problems facing first time buyers is the large sum required for a deposit. Trying to save such a quantity of money, often tens of thousands of pounds, while keeping up with rent and other bills, is a major challenge that the Help to Buy scheme sought to help.

Reports now show the extent that it has managed to do this. The average Help to Buy Mortgage Guarantee scheme (HtB2) deal now includes a deposit from the buyer that is less than, on average, £8,974.

Of course, being the average, this means that there are people getting deposits elsewhere for much less than £9,000.

This data comes from the Mortgage Advice Bureau, who was pleased to see that the lowering of deposits indicates that HtB2 is attracting less well off individuals, whom it was created for.

The average total price for a home fell too, reducing by 6% since August, to £150,488.

This is all good news for the first time buyers market, as properties are becoming more available. The Help to Buy schemes received a lot of negativity in the media as it was claimed that they were being used by much richer people to purchase homes, rather than the 2 million young people who are trapped living with their parents, or in rented accommodation.

HtB2, the secondary Help to Buy scheme seems to be addressing the problem of the unattainable deposits needed.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

Note: For a free no obligation chat with an independant mortgage specialist about your requirements please complete ourmortgage enquiry form below.

Mortgage, Remortgage or Buy-to-Let Mortgage Enquiry Form

Stop Press: Find the perfect mortgage!
Lending criteria has been relaxed and our specialists can find you great mortgage offers to compare.
Our team do all the work to find you the best offer
We'll help you find the best mortgage for your needs and ensure that everything runs as smoothly as possible.
Deposits required are again falling
The cost of the best deals has dropped recently for those borrowing either 80%, 85% or 90% of their property's value
Independent, searching the whole market
With 1000's of mortgage products available our mortgage brokers will source the mortgage that suits your situation.
Please complete this quick, free enquiry form.


Your Details

Home Buyer Guides

Home Buyer News

Speak with an independant mortgage specialist

About Company is part of the SFN Network of websites. Sitefinders Net Ltd is a U.K based company setup in 1995. Our core business is the development of online businesses using the generic domain name concept. We have a growing portfolio of websites in many different industries such as electronics, finance, retail, seasonal and health.

Privacy Policy

Get in Touch