Related topic: Lifetime mortgage

Borrowing among over-80s has more than halved since 2023.

The regulator is also planning to simplify later life advice rules.

The new data reveals ongoing differences in the usage of lifetime mortgages among age groups and genders.

Lifetime mortgage activity dipped but retirement interest-only lending rose 13% compared to the same quarter a year earlier.

The Advantage range offers a discounted interest rate in return for a commitment to regular monthly interest payments.

Lending through lifetime mortgages is just 8% of total later life lending.

Omni brings together a combination of higher LTVs and short early repayment charge terms. 

20% used equity release to repay mortgage debt in 2025, down from 31% in 2024.

more2life has also relaunched Apex Interest Reward, which offers interest rate discounts for making monthly interest payments.

The lender has also added its 'Age Next Birthday' feature to sourcing systems.