Most mortgages for recent first-time buyers in England had a loan term of over 30 years in 2023. Nevertheless, the share of mortgages with a loan duration of over 30 years decreased from 55.5 percent in 2022 to 52.2 percent in 2023. Mortgages with a shorter duration of up to 19 years also became less common. On the other hand, the share of 20-to-29-year loans grew from 38 percent, to 43.9 percent.
Distribution of recent first-time buyers in England from 2022 to 2023, by mortgage term
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Department for Communities and Local Government (UK). (December 14, 2023). Distribution of recent first-time buyers in England from 2022 to 2023, by mortgage term [Graph]. In Statista. Retrieved November 24, 2024, from https://www.statista.com/statistics/1455576/first-time-buyer-mortgage-term-england/
Department for Communities and Local Government (UK). "Distribution of recent first-time buyers in England from 2022 to 2023, by mortgage term." Chart. December 14, 2023. Statista. Accessed November 24, 2024. https://www.statista.com/statistics/1455576/first-time-buyer-mortgage-term-england/
Department for Communities and Local Government (UK). (2023). Distribution of recent first-time buyers in England from 2022 to 2023, by mortgage term. Statista. Statista Inc.. Accessed: November 24, 2024. https://www.statista.com/statistics/1455576/first-time-buyer-mortgage-term-england/
Department for Communities and Local Government (UK). "Distribution of Recent First-time Buyers in England from 2022 to 2023, by Mortgage Term." Statista, Statista Inc., 14 Dec 2023, https://www.statista.com/statistics/1455576/first-time-buyer-mortgage-term-england/
Department for Communities and Local Government (UK), Distribution of recent first-time buyers in England from 2022 to 2023, by mortgage term Statista, https://www.statista.com/statistics/1455576/first-time-buyer-mortgage-term-england/ (last visited November 24, 2024)
Distribution of recent first-time buyers in England from 2022 to 2023, by mortgage term [Graph], Department for Communities and Local Government (UK), December 14, 2023. [Online]. Available: https://www.statista.com/statistics/1455576/first-time-buyer-mortgage-term-england/
