If you are looking to take a mortgage loan, you probably have to borrow a considerable sum of money and will only want to repay it in the long term. This means that young families who are looking to move into their home would take out a mortgage. Mortgages permit you to buy luxuries that you can't afford today and allow you to pay for them over the long term. Because they are collateralized form financing banks can offer them to customers without facing much risk.
When it comes down to the basics, it is up to the customer to decide whether paying cash or taking a mortgage is of better value to him. If you feel like you can re-invest the cash you have in hand and generate greater returns over time with that money, then a mortgage is for you.