More people own their home outright than with a mortgage


  • Latest data from the English Housing Survey reveals a fractional increase in the proportion of people owning a home – latest data shows 64% of us are owner occupiers. The data is based on a survey and so could be influenced by small differences in the sample nevertheless it is the first increase since 2003 and suggests that the government’s policies to encourage home ownership may have gained some traction.
  • There are a number of causes including an ageing population resulting in a larger proportion of the population that has paid off the mortgage. Also many homeowners have been taking advantage of low interest rates to maintain monthly repayments and ultimately pay off their mortgage debt sooner.
  • A much bigger change – and consistent underlying trend over the last few years – is the proportion of owner-occupiers who own their homes outright. Mortgage-free homeowners now make up a larger proportion of owner-occupiers (52%) than those with a mortgage (48%).