{"id":1559,"date":"2022-12-15T10:19:30","date_gmt":"2022-12-15T10:19:30","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/quilter\/?p=1559"},"modified":"2022-12-15T11:36:29","modified_gmt":"2022-12-15T11:36:29","slug":"age-50-mortgage-use-changing","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/quilter\/2022\/12\/15\/age-50-mortgage-use-changing\/","title":{"rendered":"Age 50+ mortgage use changing"},"content":{"rendered":"<div class=\"hd-block hd-block-paragraph\">\n<p><strong>The use of\nmortgages for borrowers aged fifty plus is changing. Recent data<sup>1<\/sup>\nhas shown that the proportion of mortgage borrowers aged fifty and over, using\nmortgages from Hodge Bank to buy a home has doubled since 2017. Just over a\nquarter (26% ) of its 50+ borrowers currently use mortgage funds to purchase a\nhome, double the percentage (13%) doing so five years ago.<\/strong><\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>In 2017,\nover a fifth (21%) of Hodge mortgage borrowers aged 50+ used the funds to\nconsolidate debt, versus just 7% in 2022. Home improvements are popular with\n50+ mortgage borrowers, with 14% motivated to take out a loan for this reason,\nwhile 9% are using the loan to make gifts to family members, compared with 15%\nin 2017. <\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>Interestingly\nthe age of borrowers using 50+ mortgages has reduced since 2017; currently the\naverage age is 65, versus 73 five years ago. One feasible reason could be the\nfact that people have re-evaluated their property needs, with the pandemic\ngiving them a clearer view of their priorities, as older borrowers look to\nachieve their goals sooner.<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><sup>1<\/sup>Hodge,\n2022<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The use of mortgages for borrowers aged fifty plus is changing. Recent data1 has shown that the proportion of mortgage borrowers aged fifty and over, using mortgages from Hodge Bank to buy a home has doubled since 2017. Just over a quarter (26% ) of its 50+ borrowers currently use mortgage funds to purchase a [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":1563,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,76],"tags":[],"hd_content_source":[],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/1559"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/comments?post=1559"}],"version-history":[{"count":1,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/1559\/revisions"}],"predecessor-version":[{"id":1560,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/1559\/revisions\/1560"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media\/1563"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media?parent=1559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/categories?post=1559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/tags?post=1559"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/hd_content_source?post=1559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}