Later Life Mortgage Lending

Quarterly insight into mortgage lending to borrowers over age 55, the trends in lending and demographics of borrowers accessing the market.

Latest Data - Q3 2024

Published on 28/11/2024

Key data highlights:

  • There were 33,840 new loans advanced to older borrowers in Q3, up 2 per cent year on year. The value of this lending was £5.2bn, which was up 9.7 per cent compared with the same quarter a year previously.
  • There were 5,830 new lifetime mortgages advanced in Q3, down 18.8 per cent year on year. The value of this lending was £510mn, which was down 8.9 per cent compared with the same quarter a year previously.
  • There were 306 retirement interest only mortgages advanced in Q3, up 0.3 per cent year on year. The value of this lending was £28mn, which was up 10.7 per cent per cent compared with the same quarter a year previously.
  • Residential Later Life loans in Q3 represent 7.7 per cent of all residential loans. BTL Later Life loans in Q3 represent 21.7 per cent of all BTL loans.