Average Help to Buy mortgage guarantee deposit falls to under £9,000 as purchase prices dip

Scheme successfully reaching less affluent buyers who are buying lower cost homes.

New data from Mortgage Advice Bureau shows that Help to Buy mortgage guarantee (HTB2) deposits fell by 3% between August and September, while average purchase prices fell 6% over the same period.This suggests that HTB2 customers are increasingly seeking more affordable homes, making homeownership a possibility for less affluent buyers.

The data also shows that HTB2 applicants earning an average salary of £31,270 could potentially become homeowners within 9 months if they are buying with a partner or friend, or 1.4 years when buying alone.