UK Finance Later Life Lending statistics - Dave Harris, more2life

27 November 2025

Dave Harris, CEO at later life lender, more2life, on today’s UK Finance later life lending statistics:

“Today’s figures show strong growth across later life lending, with new loans to older borrowers up more than 18% by number and almost 25% by value in Q3. Lifetime mortgage lending also rose, but only by around 4%. That gap should not be ignored. It raises a clear question over whether enough older borrowers are being shown lifetime mortgages at the right stage of the advice process. These are modern products with features that can suit older clients far better than some mainstream loans, yet the take-up remains modest even as demand for later life borrowing rises at pace. After yesterday’s Budget confirmed higher tax pressure for many older homeowners, advisers must think carefully about how they are supporting these clients and whether they are offering the full range of solutions, including lifetime mortgages.

“The FCA’s Discussion Paper made the need for better access to later life options plain, and these figures underline why that point matters. Advisers are central to this. If older borrowers are being placed into mainstream products out of habit, or because lifetime mortgages are not being considered early enough, then we are not getting the most suitable outcomes. The demand is rising, the financial strain on older homeowners is growing, and the product set has never been stronger. Advisers must guide clients through the full list of options, and they must give lifetime mortgages proper attention. Anything less risks leaving older people with mainstream mortgage solutions that do not match their needs.”