Blog Post

Later life mortgages on the rise

TomS - Head Tom Simper Sep 28, 2021, 13:00 PM
227_Dataloft_inform_Insight

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

Leave a comment
Newest on top Oldest on top
Load more comments
Thank you for the comment! Your comment must be approved first
comment-avatar

"Great experience with Peter Anthony! Yaseen Hassan was professional, responsive, and incredibly helpful"

- Samuel Benedict

"I would like to thank Abbey for all her help and support she offered"

- Marie

"Sold a property, and Gill was amazing throughout the process!"

- Rachel

"Abbey was very nice and explanatory in all she was saying and Gill is quick to respond"

- Tope

"Sean was really lovely on our inspection. Quick, easy and efficient. Thank you!"

- Roberta

"Went above and beyond helping us secure a home, truly kind people"

- Anya

"nothing written"

- Nadeeka Edirisinghalage

"If you need an Estate Agent who is going to really go the extra mile, Dewi is THAT person."

- James