Buying later, borrowing longer – finding the right fit

People are buying their first homes later and choosing longer mortgages to make repayments more manageable. Therefore, about 547,000 of those who stepped onto the property ladder in 2024 will still be paying off their mortgage in their 60s.

First-time buyers get a move on

First-time buyers are less sentimental about their first homes than previous generations according to a recent survey. 25% plan to leave their first home after just 4.5 years, often due to lack of space or affordability. Smaller homes and unfamiliar locations are the new norm.