So, it’s pretty common to get a mortgage when buying a house rather then purchasing cash up front.
It’s pretty common to not be able to borrow more than 4x your income and to need to put down a 10% (or more) deposit if you want a half decent rate. Do you know a lot of under-25s who have £30k in self-made savings (not family wealth) and earning salaries of £68k a year to be able to qualify for a £270k mortgage?
So, it’s pretty common to get a mortgage when buying a house rather then purchasing cash up front.
https://www.mpamag.com/uk/mortgage-industry/guides/down-payment-on-a-house-in-the-uk-what-you-need-to-know/435518#How%20much%20deposit%20do%20I%20need%20for%20a%20%C2%A3300,000%20house%20in%20the%20UK?
Then consider that the people buying the thing may have married and both have been working.
It’s pretty common to not be able to borrow more than 4x your income and to need to put down a 10% (or more) deposit if you want a half decent rate. Do you know a lot of under-25s who have £30k in self-made savings (not family wealth) and earning salaries of £68k a year to be able to qualify for a £270k mortgage?