Buyers looking to find a mortgage hail from a wide variety of backgrounds, an expert has claimed.
Although the conception of home buyers is of a family with children, a number of differing individuals and couples are driving the mortgage market, stated mortgage provider Birmingham Midshires .
Twenty-somethings, same-sex couples and single people are looking for property, accounting for 22, 21 and 17 per cent of those planning to find a mortgage in the next year respectively.
The company added that 13 per cent of Britons are aiming to find a mortgage over the next 12 months.
Tim Hague, managing director of mortgages at Birmingham Midshires, said: "There is no such thing as an average borrower in modern Britain, yet many financial services companies continue to target mortgage products that respond to an outdated picture of British life - a picture that may include two parents, two children a golden Labrador and a mid-range family car."
A recent study by the Council of Mortgage Lenders found that first-time buyers are not "cutting corners" and opting for interest-only deals when they look to find a mortgage.
Mortgage borrowers varied, expert claims
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