Number of borrowers taking lengthy mortgage terms on the rise

August 2, 2025 by Brendan O'Neill

Borrowers

Property Market

Surveys and Statistics

The latest research to be published shows that the number of borrowers in their late 30s who are signing up for lengthy mortgage terms has increased sharply, with rising prices and interest rates being blamed.

According to this research, there were a total of 30,338 mortgages with 35-year-plus repayment terms taken out borrowers in their late 30s during 2024. By way of comparison, the total number five years earlier was just 8,639. When it comes to borrowers in their early to mid-30s, there has also been a rise. In 2019, they took out 54,919 mortgages lasting for 35 years or more, but by last year that had risen to 98,370.

These figures come from the Financial Conduct Authority (FCA) and they were secured using a freedom of information request. They were then analysed by Quilter, a company that offers wealth management services.

That analysis reveals an increase of over 250% in the number of borrowers in their late 30s who are opting for lengthy mortgages. Among early to mid-30s borrowers, it is a 79% increase. Factors being blamed for it include property price rises and inflated interest rates.

Zara Bray from Quilter spoke to Mortgage Introducer. She pointed out that there were positives to be taken from the figures:

“Given the majority of mortgages are supported by a mortgage advisor, this is a positive example of advice enabling customers to remain in their homes during difficult macroeconomic conditions.”

Those with CeMAP training can also help their clients to find products and rates that are lower.