Number of older people trying to get on property ladder soars during start of this year
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dailyrecord.co.ukA jump in people aged in their 50s and 60s who are looking to get on to the property ladder has been recorded by a mortgage services provider.
Legal & General Mortgage Services said that in the first quarter of 2024, there was a 13 per cent increase in people aged 56 to 65 looking to move into home ownership, compared with the same period last year.
The data was taken from Legal & General Mortgage Services' Ignite platform, which is used by brokers to source mortgage product information.
Legal & General Mortgage Services said it is involved in around one in four mortgages in the UK. Its data also indicates that between April 2023 and April 2024, 38 per cent of potential buyers in the UK were first-time buyers, with an average age of 33.
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