Nearly four in ten (37%) of under-65 men taking out a lifetime mortgage on a single life basis listed debt and mortgage repayment as the primary reason for releasing equity, according to analysis by Pure Retirement.
The findings, based on Pure's 2025 statistics, highlight the differences in fund uses between men and women among younger age bandings, with 29% of under-65 women primarily releasing funds for debt and mortgage repayment – 8% less than men.
Younger women are more likely to release funds for home improvements compared to men (26% vs 20%), and are also more likely to release funds for emergency/contingency funds, or to gift to family members.
Men in younger age bands, meanwhile, are more likely to primarily release equity for more discretionary reasons, with cars, holidays and lifestyle improvements all listed in the top five most common primary reasons for releasing funds.
Changing patterns among older borrowers
Among single applicants in higher age bands, common primary reasons for releasing funds begin to converge across gender – however, Pure Retirement noted that these higher age groups are far more likely than younger borrowers to gift money to family and friends, supporting wider societal patterns around living inheritances.
Even among older age brackets, men remain more likely to use housing equity to fund things such as cars and holidays, although repayment of debts and mortgages continues to feature in the top five most common uses for released funds among both men and women aged 80 and over.
Pure Retirement’s head of distribution, Scott Burman, said: “Our latest findings demonstrate the underlying versatility of modern later life lending solutions, which are in turn giving additional options for over-55s to achieve their financial goals, whatever they might be. While age and gender point towards very different usage patterns among the different gender and age profiles, the unifying characteristic is that they are all comfortable using the equity in their home – whether that’s for gifting, debt repayment, home improvements, holidays, or new cars. That bodes well for what we hope will be a strong 2026 for the sector, and points towards lifetime mortgages continuing to become an increasingly mainstream retirement solution across the demographic spectrum.”
Jim Boyd, CEO of the Equity Release Council, commented: "This is a fascinating insight into the priorities of single men and women aged 65 and 80 years when using their property wealth. Younger single men and women both prioritise reducing their exposure to mortgages while older cohorts prioritise home improvements. This could include adaptations, such as a downstairs bathroom, which could help them live longer lives independently in their own home, a preference which increases the older people get. Despite the many differences highlighted in this survey, it appears that peace of mind for the younger cohorts and a better living environment for the older cohorts unite both men and women."
