More first-time buyers (FTBs) over 50
Recent data shows that there are more over 50s taking their first step on the property ladder.
According to analysis of Financial Conduct Authority (FCA) data, first-time buyers aged 51 or over increased significantly between 2020 and 2024, rising by 43% over this period. Those buying their first home at the age of 41 or over increased by 10.5% since 2020. It is projected that over 50s will account for 5% of the FTB market by 2030 and over 40s will account for 16.4%. This is reflective of a housing market which has become increasingly challenging for prospective homeowners. However, it highlights that it is never too late to make your property dreams come true – get in touch with us to discuss your aspirations.
Your home may be repossessed if you do not keep up repayments on your mortgage
Sources:
https://www.thisismoney.co.uk/money/mortgageshome/article-15931917/Sharp-rise-time-buyers-50-new-property-Isa-scrap-upper-age-limit.html
