UK leads the way in terms of properties bought by borrowing

leads

When it comes to the proportion of homeowners that have borrowed in order to buy, Iceland ranks top, with 63.9% of all homeowners having a mortgage

The UK is leading the way when it comes to the mortgage sector and the number of properties purchased by borrowing, new research finds.

Mortgage broker Henry Dannell analysed property market data across European foreign nations to find that at 65.1%, the UK rests in the bottom 10 for the total share of the population that own their own home.

Those in just France, Sweden, Denmark, Turkey, Austria, Germany and Switzerland are less likely to own their own home, Romania is home to the highest level of homeowners as a percentage of the total population at 95.8%.

When it comes to the proportion of these homeowners that have borrowed in order to buy, Iceland ranks top, with 63.9% of all homeowners having a mortgage.

At 37.5%, the UK ranks 10th in this respect, however, in terms of the sheer volume of homeowners financed via the mortgage sector, the UK sits top of the table.

In fact, Henry Dannell estimates that over 25.2 million homeowners in the UK have currently climbed the ladder with the help of the mortgage sector. Just Germany and France come close to this level, with an estimated 21.5 million and 21 million respectively.

Spain (13.5 million) and the Netherlands (10.5 million) are the only other nations where the number of mortgage-backed homeowners exceeds the 10 million mark.

At the other end of the table, just 0.5% of all North Macedonian homeowners have a mortgage, equating to just 10,353 of the homeowning population.

Geoff Garrett, director of Henry Dannell, comments: Despite being home to some of the most notoriously high house prices in the world, homeownership remains the predominant strain in the UK property market’s DNA.

He said: This is despite the fact that property values have spiralled in recent years and we’ve seen a greater acceptance of long-term renting as a lifestyle choice from younger generations.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of Getting Money Wise. The information provided on Getting Money Wise is intended for informational purposes only. Getting Money Wise is not liable for any financial losses incurred. Conduct your own research by contacting financial experts before making any investment decisions.

getting money wise

Welcome! Get your FREE access to EVERYTHING we publish…

Our goal is to show anyone how to make investing profitable. You’ll get our FREE weekly newsletter with latest news and information on investment topics along with special offers. Please take time to read our privacy policy . The information you provide us will be processed in accordance with this.