The oldest first-time buyer backed by one of the ‘big six’ mortgage providers in 2025 was 70 years old, new data shows.
Santander has released data showing that older start-ups are capturing increasing market share. It says one in five – 22% – of those taking their first step onto the property ladder in 2025 will be over 40. This is up from 18% in 2024.
But a surprising proportion were also 60 years or older. The number of people in this age group taking out a mortgage for the first time has increased by 14% compared to 2024.
The oldest starter to help Santander in 2025 was 70 years old – this compares to 67 years old in 2024.
Santander said the average age of a first-time buyer is creeping towards 40. And despite improvements in lending policies and regulations over the past year, which are aimed at helping young people onto the property ladder, the proportion of buyers aged 25 and under has ‘fallen sharply’ in the past year – by 23%.
The youngest first-time buyer to use Santander as a lender this year was 18 years old, highlighting that starting to own a home does not necessarily equate to age.
David Morris, head of residential at Santander, said: “Our recent data shows it is never too late to realize your home ownership dream.
“This year was very much the year of the buyer, with regulatory changes giving buyers renewed confidence that owning a home is within reach.
“Whether it’s buying with family gifts, relying on inherited wealth or simply saving for decades to secure a down payment, we’re pleased to have helped so many first-time buyers get into the market over the generations.
“But more can be done, and our data also points to a growing disparity in first-time homeownership rates, with the gap between younger and older generations widening as the market grapples with the impact of stamp duty changes and a lack of supply.”