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NatWest confirms £200m saved in Help to Buy ISAs

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  • 30/11/2017
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NatWest confirms £200m saved in Help to Buy ISAs
More than £200m is currently held by first-time buyers in NatWest Help to Buy: ISAs, according to the lender.

Since launch, it said more than 16,000 customers have used the savings product to help towards buying their first home.

The government initiative reaches its two-year anniversary this December – the latest statistics released in September showed more than 83,686 property completions had been supported by the scheme with 113,868 bonuses been paid averaging £678.

In total £77m of bonuses were paid up to the end of June 2017 which were used to finance properties worth £14.3bn in total.

 

Younger and cheaper

The mean value of a property purchased through the scheme is £170,862 compared to an average first-time buyer house price of £189,000 and a national average house price of £223,000.

Meanwhile, the median age of a first-time buyer in the scheme is 27 compared to a national first-time buyer median age of 30.

The highest proportion of property completions with the support of the scheme is in the North West, Yorkshire and The Humber and West Midlands, with a lower proportion in the North East and Northern Ireland.

NatWest said its customers were also receiving an average bonus of £700 from the government, with £167 saved on average each month.

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