A recent report from Santander, a major mortgage lender, indicates a notable trend in the age of first-time homebuyers. More than 20% of Santander’s first-time buyers in 2025 are over 40 years old, with the oldest borrower being 70.
The housing market’s rising prices and evolving life circumstances are prompting individuals to delay homeownership until later in life. This shift is reflected in Santander’s data, which shows a 4% increase in the number of first-time buyers over 40 compared to the previous year.
Interestingly, there has been a significant rise in first-time buyers over 60, with a 14% increase from the previous year. Santander’s records reveal that their oldest first-time buyer this year was 70, up from 67 in 2024. The bank’s lending policies set a maximum age limit of 75 for capital and interest repayment mortgages and 70 for interest-only mortgages.
Conversely, there has been a decline in the proportion of first-time buyers aged 25 and under, dropping by nearly a quarter from 2024 to 2025. Despite this trend, the youngest first-time buyer in 2025 was 18 years old.
David Morris, Santander’s head of homes, emphasized that achieving homeownership remains a viable goal at any age. He noted that regulatory changes have bolstered buyer confidence, making homeownership more attainable. Morris highlighted the increasing disparity in first-time home ownership across different age groups, attributing it to factors like stamp duty adjustments and housing supply constraints.
Lenders typically impose age restrictions on mortgage applicants based on when the mortgage term concludes. This criterion, often up to age 95, considers both property prices and individuals’ extended life expectancy. While securing a first-time mortgage at an older age is feasible, lenders may limit term extensions to manage monthly payments effectively.