Research shows younger people embracing lifetime mortgages

April 4, 2026 by Brendan O'Neill

Surveys and Statistics

The latest research shows a big increase in the number of people below the age of 70 taking out lifetime mortgages.

This is the finding of research by Pure Retirement. It shows that 55% of new lifetime mortgages accepted during 2025 were for people who are below 70. By way of comparison, the figure for 2023 was 36%, so the increase is notable.

At the same time, the opposite thing has been happening among older people. The number of lifetime mortgages that were taken out in 2025 by people aged 80 or over was just 7%. Meanwhile, the figure for two years earlier was 15%.

One aspect of the market that has not changed much is the type of home involved. The most typical type continues to be those in the middle value band – e.g. from £250,000 to £400,000 in price. These make up 37% of all new lifetime mortgages, which adds up to almost four out of every ten.

There has been a shift in the primary reason why borrowers are opting for these loans though. 28% of them in 2025 were for mortgage or debt repayment, which is a big rise compared with the previous two years.

Scott Burman from Pure Retirement told Financial Reporter:

“It’s impossible to ignore the fact that current lending volumes within the lifetime mortgage space have been driven by needs-based borrowing rather than releasing equity for more discretionary reasons.”

As long as borrowers seek guidance from someone with CeMAP mortgage advisor training, this can be a legitimate way to pay off debts.