A new study by Land of Rugs has revealed the UK cities and towns where residents are most likely to have fully paid off their homes. So, if you’re aiming to ditch the debt and go mortgage-free, these are the places to watch.
The study analysed homeownership tenure data from official sources including the Office for National Statistics (ONS), NISRA (Northern Ireland Statistics and Research Agency), and the Scottish Government. These sources provide breakdowns across multiple housing categories, such as outright ownership, ownership with a mortgage, shared ownership, private renting, and social housing.
Looking at 133 towns and cities across the UK, the study compared the proportion of outright homeowners relative to the total number of homeowners in each location. By isolating the percentage of people who own their homes outright, the results paint a fascinating picture of where mortgage-free living is most common and it’s not always where you’d think.
In eighth place is Folkestone, where 39.24% of homeowners have achieved full ownership. With recent regeneration, improved transport links to London and a creative buzz, Folkestone has seen something of a revival and now, it’s proving a smart place to settle down.
Despite the town’s growing popularity, it remains relatively affordable compared to other coastal locations. That mix of potential and practicality has helped many residents fully own their homes and embrace the mortgage-free life.
Other cities in the top 10 ranked as following: Maldon leads the list with 43.81%, Lewes is second (42.40%), Hereford third (42.34%), Lichfield fourth (41.42%) and Scarborough fifth (41.40%).
Harrogate ranks sixth (40.66%), High Peak seventh (40.14%), Solihull is ninth (39.17%) and Torbay follows in tenth with 39.15%.
Not every city is faring as well. Unsurprisingly, major urban centres lag far behind when it comes to outright homeownership. London, for example, sees just 20.15% of homeowners owning their property outright. It’s even lower in Manchester (16.50%) and Greenwich (16.20%).
Westminster finishes bottom of the ranking, with just 16.04% of homeowners having fully paid off their homes, a reminder that in some parts of the UK, owning outright is still a long way off.
Other notable cities include Edinburgh in 58th place, Birmingham at 99th, Oxford at 107th, Bristol just behind at 108th, and Liverpool further down in 114th.
Top ten best UK cities where you’re most likely to own a home outright in the study:
| Rank | City/Town | % of Residents Who Own Their Property Outright |
| 1 | Maldon | 43.81 |
| 2 | Lewes | 42.40 |
| 3 | Hereford | 42.34 |
| 4 | Lichfield | 41.42 |
| 5 | Scarborough | 41.40 |
| 6 | Harrogate | 40.66 |
| 7 | High Peak | 40.14 |
| 8 | Folkestone | 39.24 |
| 9 | Solihull | 39.17 |
| 10 | Torbay | 39.15 |