{"id":32762,"date":"2025-12-02T10:51:12","date_gmt":"2025-12-02T10:51:12","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/tomd\/2025\/12\/02\/buying-later-and-borrowing-longer\/"},"modified":"2025-12-02T14:48:20","modified_gmt":"2025-12-02T14:48:20","slug":"buying-later-and-borrowing-longer","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/tomd\/2025\/12\/02\/buying-later-and-borrowing-longer\/","title":{"rendered":"Buying later and borrowing longer"},"content":{"rendered":"
\n
More first-time buyers are purchasing homes later in life to manage affordability challenges <\/td>Longer mortgage terms help keep monthly payments manageable but extend debt into later years <\/td>Professional guidance can help buyers select the most suitable mortgage for their circumstances <\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div>\n\n
\n

Getting onto the property ladder has become harder in recent years and that\u2019s had a noticeable impact. People are now buying their first homes later in life and they\u2019re choosing longer mortgage terms to make monthly payments more manageable.<\/strong> <\/p>\n<\/div>\n\n

\n

According to research1<\/sup>, in 2019-20 just 3.6% of first-time buyers (FTBs) with a mortgage were aged 45 or older. By 2023-24, this figure had nearly tripled to 11.5%. Also, more borrowers are opting for longer mortgage terms. Around 84.9% of FTBs are taking out mortgages that are 25 years or more, while nearly one in three are signing up for 35 years or longer. This means that about 547,000 of those who stepped onto the property ladder in 2024 will still be paying off their mortgage in their 60s. <\/p>\n<\/div>\n\n

\n

More mortgages for lower incomes <\/strong> <\/h2>\n<\/div>\n\n
\n

Longer terms are increasingly common because they\u2019re often the only way that people can afford to buy a home. In July, the Bank of England advised that lenders can offer more mortgages that are over 4.5 times a borrower\u2019s income. HM Treasury expects this to create up to 36,000 additional FTB mortgages over the first year. <\/p>\n<\/div>\n\n

\n

What\u2019s right for you?<\/strong> <\/h2>\n<\/div>\n\n
\n

We can advise you on the most suitable mortgage for your individual circumstances. It\u2019s a big step and a major expense in your life, we can provide the knowledge and support you need to make the right decision for you. <\/p>\n<\/div>\n\n

\n

1<\/sup>Sprive, 2025 <\/p>\n<\/div>\n\n

\n

As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments.<\/strong> <\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

More first-time buyers are purchasing homes later in life to manage affordability challenges  Longer mortgage terms help keep monthly payments manageable but extend debt into later years  Professional guidance can help buyers select the most suitable mortgage for their circumstances  Getting onto the property ladder has become harder in recent years and that\u2019s had a noticeable impact. People are […]<\/p>\n","protected":false},"author":12,"featured_media":32765,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,91],"tags":[],"hd_content_source":[116],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/32762"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/comments?post=32762"}],"version-history":[{"count":1,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/32762\/revisions"}],"predecessor-version":[{"id":32766,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/32762\/revisions\/32766"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media\/32765"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media?parent=32762"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/categories?post=32762"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/tags?post=32762"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/hd_content_source?post=32762"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}