Mortgages

Young buyers drive mortgage demand as stamp duty holiday ends

Amy Loddington
|
11th October 2021
couple children move house first buyer FTB

Experian has today released new figures showing that mortgage application volumes are up 17% in September this year, when comparing figures to those in September 2019 before the stamp duty holiday was in effect.

The younger age demographics are fueling these figures, with average daily mortgage applications up 20% for those in their 30s.

Daily mortgage applications were up 14% for those in their 30s when comparing September this year to August 2021 and up 9% for those in their 20s over the same period.

James Jones, Head of Consumer Affairs at Experian said:

“Interest in new home ownership remains high as the stamp duty holiday ends, especially among younger people. Many have been using their lockdown savings to help secure their perfect home, with over a third of people in their 20s (36%) saying that the pandemic had helped them save for a deposit, rising to 41% of those in their 30s."

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