The percentage of British people using a mortgage or purchasing a home outright has increased significantly over the last 60 years.
This is the finding of new research from Aviva, which revealed preferences regarding ownership have changed dramatically since Elizabeth II first took to the throne in 1952.
Released ahead of the Queen’s Diamond Jubilee, the study revealed a gradual shift across this timeframe.
While just 31 per cent of the population obtained a mortgage or fully bought their house at the beginning of Her Majesty’s reign, this figure has since climbed to 70 per cent today.
Richard Kelsall, head of savings at Aviva – which serves around 43 million customers around the world and has more than 300 years of history – noted: “We’ve seen some significant financial shifts in the way families operate over the last 60 years. House prices have increased, family sizes have fallen and dual employment has increased.”
Mr Kelsall pointed out, however, that family remains a top priority for many people in the UK, with most individuals keen to ensure the financial security of their loved ones is assured
