UK leads Europe with 25.2m homeowners backed by the mortgage sector

MAY 2022

Research by Henry Dannell has revealed that while the UK may trail other European nations when it comes to the total proportion of the population that own their own home, it does lead the way when it comes to the might of the mortgage sector and the number of properties purchased by borrowing. 

We analysed property market data across European foreign nations, which shows that at 65.1%, the UK sits well within the bottom 10 when it comes to the total share of the population that own their own home. 

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

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 by far.

In fact, we estimate that over 25.2m 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 21.5m and 21m respectively. 

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

Henry Dannell Director, Geoff Garrett, commented:

“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. 

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. 

The ability to buy with the help of a mortgage has been vital in helping many homebuyers realise their aspirations of homeownership and while mortgage-backed homeowners only account for just shy of forty per cent of the total market, this equates to a huge 25.2m people. 

This makes the UK mortgage sector by far the most pivotal and influential in Europe where the provision of finance in order to purchase a property is concerned.”

As featured in Introducer Today

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Please note: a mortgage is secured against your home or property. Your home or property may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.