Related topic: Equity release

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.

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

40% of borrowers used equity release for home improvements, holidays, cars, or gifts to family.

Of those who have spoken to a financial adviser about their retirement plans, just 7% were presented with equity release as an option unprompted.

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

The report says the family home should not be ruled out of consideration - especially where liquidity is limited.

Members have agreed to a special resolution, broadening the Council’s remit across all forms of later life lending.

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