Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Later Life Lending Grows Among Higher-Value UK Homeowners

More2Life’s latest figures show that 16% of lifetime mortgages completed in Q2 2026 were taken out by homeowners with properties valued at £700,000 or more, up from 15% in the same period last year. Additionally, 7% of new lifetime mortgages in the quarter were secured against properties worth at least £1 million.

The data from More2Life challenges the perception that lifetime mortgages are mainly used by owners of lower-value properties. The average property value among new lifetime mortgage customers increased to £463,650 in Q2 2026, representing a 3.3% rise year-on-year.

Detached and semi-detached homes continue to lead demand for lifetime mortgages. In Q2 2026, 41% of new lifetime mortgages were taken out by owners of detached properties, a 3% increase on the previous quarter. Semi-detached homeowners accounted for 33% of new plans, while terraced homes represented 21% of business written during the quarter.

Pure Retirement reported that in 2025, the North East had the largest proportion of lending on lower-value properties, with 71% of loans on properties valued under £250,000. In the North East and North West, the most common reasons for releasing equity were repaying debts and mortgages.

These trends may be relevant for UK letting agents and inventory clerks, as they reflect changing patterns in property ownership and the types of homes involved in later life lending. The data suggests a broadening demographic for lifetime mortgages, including higher-value property owners and a variety of property types.