Clydesdale Bank reveals average age for first time buyers

25/01/2012

Clydesdale Bank today 25th January 2012 revealed the average age for those taking a First Time Buyer mortgage with the bank is 30.

The Bank remains one of the few lenders still offering 95% mortgages to those looking to take their first step onto the property ladder as part of its range of competitive mortgage products.

A third (33%) of the Bank’s first time buyers fall into the under 25 age category with a further 32% aged between 26 and 30 and 16% in the 31 to 35 age group. Nine per cent are between 36 and 40 years old and 11% are over 41.

There is a marked difference between the average house prices for each age range, from £104,021 for those under 25 through to £240,709 for those aged between 31 and 35.

Breakdown of CYB First Time Buyers by Age Range and Average House Prices

Steve Reid, Retail Director for Clydesdale Bank, said: “We remain committed to supporting first time buyers and have a range of competitive products to help them throughout the process.

“Our Regular Home Saver helps prospective homeowners to save a deposit for their new home and we remain one of the few lenders who still offer a 95% LTV mortgage for first time buyers.

“We are proud that we are helping buyers of all ages to buy their dream home and take their first step on the property ladder.”

As part of its commitment to supporting first time buyers, Clydesdale Bank introduced new lower rates on its range of mortgages for those looking to get onto the property market ranging from 5.49% to 6.19%* including a fee free rate of 5.69% fixed for 3 years.

For more information on the wide range of mortgages offered by Clydesdale Bank, please contact 0800 678 1230 (opening hours 8am – 8pm Mon-Fri) or visit www.cbonline.co.uk