Research shows number of last time buyers in the housing market has increased

On in three home moves, about 200,000 a year are now made by owners aged 55 and over as a growing number use their huge equity reserves to find their perfect last home, according to new research. The numbers have almost doubled in the last decade and many buyers in this sector are cash buyers with less than a fifth taking out a mortgage, the study from the Intermediary Mortgage Lenders Association (IMLA) shows. The report assesses the relatively undocumented growing trend of older home owners predominantly using cash to move from their established family home.

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