Later Life Mortgage Lending

Latest Data - Q4 2024

Published on 27/02/2024

Key data highlights:

• There were 35,840 new loans advanced to older borrowers in Q4, up 28.2 per cent year on year. The value of this lending was £5.6bn, which was up 38.6 per cent compared with the same quarter a year previously.
• There were 5,700 new lifetime mortgages advanced in Q4, up 6.7 per cent year on year. The value of this lending was £510mn, which was up 24.4 per cent compared with the same quarter a year previously.
• There were 343 retirement interest only mortgages advanced in Q4, up 35.6 per cent year on year. The value of this lending was £35mn, which was up 34.6 per cent per cent compared with the same quarter a year previously.
• Residential Later Life loans in Q4 represent 7.8 per cent of all residential loans. BTL Later Life loans in Q4 represent 21.8 per cent of all BTL loans.