As the UK housing market changes, more people over the age of 55 are looking for mortgage options that suit their needs. Whether it's downsizing, equity release, or planning for retirement, finding the right mortgage can offer both flexibility and financial security. In this blog, we’ll look at what you need to know about getting a mortgage for over 55s.
Mortgages
Three in five first-time buyers depend on the bank of mum and dad in order to get onto the property ladder, according to research by Just Group. In the last five years, 61 per cent of FTBs relied on financial help from relatives in order to purchase a property. In comparison, just 20 per cent of FTBs relied on financial assistance from relatives 30 years ago.
