Helping aspiring homeowners buy their first home was one of our founding principles. But we know it’s become harder than ever to realise that dream.
The average price of a first time buyer property has increased 41% in the past 10 years with average income rising by just 18%. Affordability remains a key issue stopping many from owning a house.
This is why we’ve created a £1 billion fund to help those who can’t quite afford their first home. It means a first time buyer couple with a joint income of £50,000 can now borrow up to £275,000 with Helping Hand. Rather than the £225,000 they could borrow previously. Assuming a 10% deposit and no other costs impacting affordability.