According to the latest research from Aldermore, there is a real lack of understanding around the house buying process and the associated costs amongst those looking to buy their first home.
Estimated First Time Buyer Deposit | Actual average First Time Buyer deposit (ONS)* | The Difference of between perception vs reality | |
Total | £34,397 | £49,639 | -£15,242 |
North East | £32,662 | £24,937 | £7,725 |
North West | £29,206 | £28,252 | £954 |
Yorks & Humber | £29,844 | £27,555 | £2,289 |
East Midlands | £30,427 | £30,708 | -£281 |
West Midlands | £28,275 | £33,059 | -£4,784 |
East of England | £33,536 | £51,644 | -£18,108 |
London | £48,222 | £123,398 | -£75,176 |
South East | £37,798 | £61,491 | -£23,693 |
South West | £26,441 | £45,074 | -£18,633 |
Wales | £27,963 | £26,307 | £1,656 |
Scotland | £22,579 | £26,350 | -£3,771 |
source http://blog.evolutionproperties.co.uk/2017/11/06/many-ftbs-miscalculate-the-true-cost-of-buying-a-home/
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