Many FTBs miscalculate the true cost of buying a home

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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.

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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

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