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

Wealthier Homeowners Increasingly Turn to Lifetime Mortgages, Says More2life

Lifetime mortgages are being used by a growing number of wealthier homeowners, according to new research from More2life. The company’s analysis shows a rise in the proportion of high-value properties involved in new lifetime mortgage business.

More2life’s data reveals 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 during the quarter were secured against properties worth at least £1 million.

The findings challenge the perception that lifetime mortgages are mainly used by owners of lower-value homes. More2life reports that the average property value among new lifetime mortgage customers increased to £463,650 in Q2 2026, representing a 3.3% year-on-year rise.

The data also indicates that lifetime mortgages are being considered by homeowners across a broad range of property values and circumstances. In Q2, 41% of new lifetime mortgages were taken out by owners of detached properties, an increase of 3% on the previous quarter. Semi-detached property owners accounted for 33% of new plans, while terraced home owners represented 21% of business written during the quarter.

More2life states that these trends reinforce the need for consumers to be informed about the full range of later life lending options available to them.

For UK letting agents and inventory clerks, these findings highlight a shift in the later life lending market, with a broader spectrum of property types and values now involved in lifetime mortgage activity.