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

Load more comments
Thank you for the comment! Your comment must be approved first
comment-avatar

"Very helpful and proper guidance on time"

- Shine Xavier

"Dewi kept us up to date & was very understanding of my Mum's situation. I would highly recommend selling with this company."

- Jane

"Excellent service, quick to find tenants and organising final checks, no complaints so far!"

- Steve

"Helpful, cheerful and thorough throughout the whole process"

- Jay

"I would highly recommend Gill and the team"

- Isabelle

"I found Sean to be an understanding and friendly guy"

- Mike

"Sean is a really pleasant courteous gentleman to deal with too"

- John

"Wouldn't hesitate in recommending Peter Anthony for any of my requirements when it comes to a home"

- Craig