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 - Q1 2024

Published on 30/5/2024

Key data highlights:

  • There were 28,840 new loans advanced to older borrowers in Q1, down 11.7 per cent year on year. The value of this lending was £4.3bn, which was down 8.5 per cent compared with the same quarter a year previously.
  • There were 5,060 new lifetime mortgages advanced in Q1, down 30.1 per cent year on year. The value of this lending was £410mn, which was down 31.7 per cent compared with the same quarter a year previously.
  • There were 284 retirement interest only mortgages advanced in Q1, up 1.4 per cent year on year. The value of this lending was £28mn, which was up 16.7 per cent per cent compared with the same quarter a year previously.
  • Residential Later Life loans in Q1 represent 7.9 per cent of all residential loans. BTL Later Life loans in Q1 represent 22.5 per cent of all BTL loans.