more2life responds to the Budget

26 November 2025

Dave Harris, CEO at more2life, said:

“Older homeowners will be feeling the pinch from this Budget, irrespective of the benefits of the Triple Lock on their State Pension.

“Extending the freeze on tax thresholds will drag greater numbers into paying more tax to the Treasury, with more pensioners paying Income Tax on their pension payments, while there is a bigger chance now that homeowners will see expected house price growth pushing their estates into the area of Inheritance Tax payments.

“Couple that with the introduction of the new Council Tax surcharge on high-value properties, and it’s inevitable there will be real concern amongst older homeowners about how best to handle their increased outgoings on tax.

“Being able to tap into their most valuable asset - their home - is only going to become more important due to these rising costs, and we need to ensure they are signposted effectively to advisers so they can get the professional support they need.

“The good news here is the later life lending market has evolved significantly, with a wider choice of flexible product options available which can be tailored to match the older homeowner’s circumstances.

“This Budget, and the specific impact it will have on older borrowers, should serve as a prompt for advisers to communicate with their client base, and ensure they are presented with the full range of potential solutions, rather than a narrow selection of mainstream options.”