Later Life Mortgage Lending

Latest Data - Q4 2023

Published on 19/2/2024

Key data highlights:

• There were 29,060 new loans advanced to older borrowers in Q4, down 37.1% year on year. The value of this lending was £4.1bn, which was down 42.4% compared with the same quarter a year previously.
• There were 6,710 new lifetime mortgages advanced in Q4, down 40.1% year on year. The value of this lending was £520mn, which was down 57.4% compared with the same quarter a year previously.
• There were 255 retirement interest only mortgages advanced in Q4, down 43.3% year on year. The value of this lending was £26mn, which was down 38.1% compared with the same quarter a year previously.
• Residential Later Life loans in Q4 represent 7.38% of all residential loans. BTL Later Life loans in Q4 represent 21.98% of all BTL loans.