Later life mortgages on the rise

In this speed read we look at the length of home loans to borrowers likely to extend beyond their 65th birthdays

Mortgage lending in later life is on the rise. The age of first-time buyers, an increase in the length of mortgage terms and an ageing population all causes.
UK Finance report over half of new homeowner loans issued in the first six months of 2021 has an end date in excess of the borrowers 65th birthday.
While the average age of a First time buyer is 32, over 1 in 4 are aged 35-44. The mortgage term for nearly half (47%) of recent First-time Buyers was 30 years or more (English Housing Survey).
Such data indicates that in futures years the proportion of owner occupiers who own their property outright may well start to decline. Source Dataloft, UK Finance

Get in touch with us

First Name

Last Name

Your Email Address

Mobile Phone

Are you looking to

Buy

Sell

Rent

Let

Please enter message here

Please confirm that it is okay for us to contact you about this information as well as our products and services. By confirming, you also agree to the use of cookies to enhance your experience. (You will always have the right to unsubscribe or manage your cookie preferences at any point in the future.)

Confirm

The Structure of British Housing

The UK housing market may look balanced at first glance, but property trends tell a very different story when you zoom in locally. The mix of homes in an area shapes buyer demand, property values, and selling speeds. National data sets the scene, but local insight reveals what really drives your market. Click the link to learn more...

CLICK HERE >