Average mortgage length for recent first-time buyers in England 2022-2023
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.
