Figures from the bank showed it had received more than 5,000 applications since its launch on October 11 with more than a fifth of those already completed. The lender said it was receiving around 500 full mortgage applications each week.
The total value of the 5,000 applications is £791m with 80% of applicants purchasing properties outside of London and the South East.
Loan amounts differ greatly in different areas of the UK with an average purchase price of £279,735 in London versus £91,497 in Northern Ireland. The typical borrower in all areas of the country is between 29 and 32 while 80% of applicants are first-time buyers.
Craig McKinlay, mortgages director at Halifax, said: “To have already helped over a thousand customers receive the keys to their new homes shows that the scheme is making the property ladder more accessible to aspiring homeowners and homemovers.
“The fact that Help to Buy is benefiting buyers in every region in the UK is testament to how it is helping those that can afford the monthly payments, but had not previously been able to get the necessary deposit.”
|
Region |
Average age |
Average purchase price |
|---|---|---|
| North | 30 | £114,405 |
| Yorkshire & Humberside | 30 | £122,222 |
| North West | 30 | £124,236 |
| East Midlands | 30 | £130,407 |
| West Midlands | 30 | £133,973 |
| East Anglia | 31 | £149,761 |
| Wales | 29 | £112,517 |
| South West | 30 | £158,657 |
| South East | 31 | £198,445 |
| Greater London | 32 | £279,735 |
| Northern Ireland | 31 | £91,497 |
| Scotland | 30 | £120,478 |
