Research by mortgage lender LiveMore suggests a significant shift in the market towards the rise of female single buyers.
The lender’s data found that almost a third of its applicants/applications for mortgages are from single women.
Its female applicants also sit across a great age range, with an average of 68, while the eldest is 92.
Additionally, analysis by Ludlow Thompson has actually shown that women now make up 48% of the 2.6 million buy-to-let landlords in the UK.
Alison Pallett (pictured), LiveMore’s MD of sales, said: “Today we want to celebrate the abundance of women who are financially independent and taking control of their finances.
“Too often there is an assumption that people of a certain age are all in a similar circumstance, with a life partner and a degree of financial co-dependence, but that is not the case for many of our female customers.
“At LiveMore we’re absolute specialists in over-50s lending, and our customer data proves just how diverse and rich in different experiences this audience is.
“We’ve seen that many of our borrowers are defying stereotypes and pursuing single person mortgages well into their 50s and beyond.
“For so many, personal situations have meant that they are now taking out mortgages independently, whether due to bereavement, divorce or simply not having a partner.
“There’s no one-size-fits-all when it comes to mortgage needs and the market must reflect that.
“At LiveMore, we’re empowering borrowers with more choice, a flexible approach to affordability and a real understanding of their circumstances, regardless of their age, gender or marital status.
“This is particularly important for women in light of the gender pay gap, which currently stands at 15.4% and means women’s salary and pensions are more likely to fall short of mainstream lending criteria, making it far harder for them to get a mortgage.
“We believe everyone should have the opportunity to take out a new mortgage or to stay in their home for longer and we’re committed to providing products that make that a possibility.”
