One in three young mortgage holders do not have any protection cover.
This is according to research conducted by Opinium on behalf of HomeOwners Alliance and LifeSearch, surveying 2,000 UK adults aged 18 and over this April.
The research, which surveyed more than1200 homeowners, including 500 mortgage holders in the UK, showed that among mortgage holders aged 18–34, just 15% reported that they “know a lot” about income protection.
While just over half (54%) of the 18–34 year-old mortgage holders surveyed reported having life insurance, nearly a third (30%) of young mortgage holders said they had no protection cover at all – including life insurance or critical illness cover.
The data also showed that 14% of mortgage holders aged 18–34 would immediately struggle to meet their mortgage payments if they lost their income due to sickness or injury, more than any other age group.
Over half (57%) said they would be in difficulty within six months.
Coping with loss of income
When asked how they would cope with a sudden loss of income, many younger mortgage holders listed short-term stopgaps – 29% said they would try to take on extra work and 23% would cut savings or pension contributions.
Around 21% said they would turn to government support such as Universal Credit and 12% said they would consider a bank loan.
Not just for older workers
Debbie Kennedy, CEO at LifeSearch, (pictured) said: “This is a generation full of ambition – but without the guidance and support to match.
“Many under-35s are navigating some of life’s biggest financial commitments without knowing what protection is available to them, let alone having it in place.
“Income protection isn’t just for older workers or high earners – it’s for anyone who depends on a regular income to cover essential costs. Without it, the impact of a sudden illness or accident could be significantly more concerning.
“There’s an urgent need to close this awareness gap. That means clearer advice, better signposting, and conversations about protection starting earlier – so that young homeowners aren’t left exposed.”
Paula Higgins, CEO at HomeOwners Alliance, added: “Buying a home is a proud moment – but it comes with risks.
“For young homeowners, the stakes are high: many have stretched to afford their property, and their financial resilience is often still being built.
“We need to do more to support young people in staying financially secure, especially as they take on the long-term responsibility of a mortgage.
“Ensuring they have the tools, knowledge, and support to weather life’s ups and downs is essential to helping them hold onto their homes and build a stable future.”
