Teaching Mortgages in Schools Could Transform the Future of Homebuying

The path to homeownership has never been straightforward, but a recent Government initiative could help ensure that future generations are better equipped to navigate the complexities of buying property. The Government's Curriculum and Assessment Review has recommended that school children should learn about mortgages as part of their education, a proposal that has received widespread support from property industry professionals.

This recommendation forms part of a broader push to incorporate digital and financial education into the national curriculum. At a time when many first-time buyers struggle to understand the intricacies of mortgage products, deposit requirements, and the long-term financial commitment of property ownership, the case for early education has never been stronger. The initiative recognises that financial literacy is not simply an academic exercise but a practical life skill that will serve young people throughout their adult lives.

The property industry's enthusiasm for this proposal comes amid significant changes within the sector itself. The Royal Institution of Chartered Surveyors recently published its Surveying Skills Report 2025, which painted a picture of an industry experiencing rapid evolution alongside persistent skills shortages and capacity pressures. The report identified business skills, sustainability, data analytics, and big data management as critical priorities for the profession moving forward.

RICS has been particularly vocal in supporting educational pathways that bridge the gap between classroom learning and real-world application. The organisation has emphasised the importance of vocational elements within the curriculum, calling for further expansion of Technical Qualifications that provide tangible routes into employment. Their support for the V-Level pathway in the built environment demonstrates an industry-wide recognition that theoretical knowledge must be complemented by practical understanding.

For those looking to buy or sell property in Rugby and the surrounding villages, the implications of improved financial education are significant. Estate agents like ourselves at Ellis Brooke regularly encounter buyers who are unsure about the mortgage process, unaware of the true costs involved in purchasing a home, or uncertain about how their financial decisions today might affect their ability to move in the future. By introducing mortgage education at school level, future generations will arrive at the property market with a foundational understanding that many current buyers lack.

Mark Harris, chief executive of mortgage broker SPF Private Clients, has gone further than simply supporting the curriculum changes. He has suggested that mortgage brokers should be invited into classrooms to share their real-world expertise. His argument rests on the premise that financial literacy is a life skill capable of making the difference between managing finances successfully and falling into problematic debt. Harris advocates for brokers to explain how the mortgage market operates, how to borrow responsibly, the importance of maintaining a strong credit file, and why it's crucial not to overstretch financially.

This hands-on approach could prove invaluable. Whilst teachers are skilled educators, mortgage brokers work at what Harris describes as "the coalface", they understand the nuances of lending criteria, the impact of interest rate changes, and the common pitfalls that borrowers encounter. Their involvement could ensure that the next generation arrives in the property market considerably more knowledgeable than their parents were.

The benefits extend beyond individual buyers. When purchasers understand the mortgage process more thoroughly, property transactions tend to proceed more smoothly. Delays caused by confusion over documentation, unrealistic expectations about borrowing capacity, or last-minute discoveries about additional costs become less frequent. For sellers this means potentially faster, more reliable sales with fewer chains breaking due to mortgage-related issues.

There's also a broader societal consideration. Property ownership remains one of the most significant financial decisions most people will make in their lifetime. The complexities have only increased in recent years, with various mortgage products, government schemes, and changing lending criteria creating a landscape that can be bewildering for the uninitiated. By demystifying mortgages whilst young people are still in education, the initiative could help reduce anxiety around homebuying and empower individuals to make informed decisions when the time comes.

For the local area, where Ellis Brooke operates, this educational shift could have particular resonance. As a community-focused estate agency with over 30 years of combined experience, we've witnessed firsthand how a lack of financial understanding can complicate what should be an exciting milestone. First-time buyers often arrive at viewings enthusiastic about a property but uncertain about whether they can actually afford it, or unaware of the additional costs beyond the deposit and monthly mortgage payments.

The Government's review acknowledges that nobody should "slip through the net" when it comes to essential financial knowledge. This democratic approach to education ensures that all young people, regardless of their family's financial literacy or property-owning background, will have access to the information they need. In an area like ours, where the property market serves diverse communities with varying levels of familiarity with homeownership, this standardised education could help level the playing field.

Of course, the success of this initiative will depend on implementation. Simply adding mortgages to an already crowded curriculum without proper resources, training, or expert input risks creating superficial understanding rather than genuine financial literacy. The property industry's offer to contribute expertise, whether through broker visits, educational materials, or industry partnerships, could prove essential in ensuring the programme delivers meaningful results.

Looking ahead, estate agents and property professionals across the country will be watching with interest to see how these recommendations translate into practice. The potential for a generation of homebuyers who approach the market with confidence, realistic expectations, and sound financial understanding is an exciting prospect. It could transform the buying and selling experience, reducing stress for all parties and creating more efficient property transactions.

At Ellis Brooke, we've always believed that clear, straightforward advice is fundamental to successful home moves. We take time to explain processes, answer questions, and ensure our clients feel informed and supported throughout their property journey. The prospect of future buyers arriving already equipped with basic mortgage knowledge aligns perfectly with our philosophy of transparency and education.