The graphic provides a clear insight into the percentage of homeowners with mortgages across different age groups in the UK.
Interestingly, the data reveals that 81% of homeowners aged 18 to 24 have mortgages, which might be lower than expected given the financial challenges typically faced by younger adults. This could be due to parental support?
The 25 to 34 age group sees the highest percentage at 92%, reflecting the peak period of mortgage acquisition. As age increases, the percentage of homeowners with mortgages decreases, with 87% in the 35 to 44 group and 77% in the 45 to 54 group. This trend continues significantly in older age groups: 55 to 64-year-olds at 39%, and only 7% for those aged 65 and over. This sharp decline highlights the natural progression of mortgage repayment over a homeowner's life.
The statistics of Northampton homeowners with mortgages, broken down by age, should be released later this year or early next year. Once they have been, I will share them with you.
In the meantime, do you have any observations or comments on what you see regarding the UK figures? Any surprises?
