Phoebus comments on later life lending data from UK Finance

10 June 2025

Richard Pike, chief sales and marketing officer at Phoebus:

“An increase in later life lending activity signals that older borrowers are continuing to take a more proactive approach to managing their finances — whether that’s through traditional mortgages, RIOs, or equity release products. In an environment where cost of living remains high, tapping into property wealth or restructuring existing borrowing is becoming an increasingly important part of later life planning.

“What’s notable is the continued diversification within this market. We’re seeing borrowers opt for a range of solutions depending on their needs — from managing interest-only mortgage maturities to helping family members onto the property ladder. As the market matures, technology, underwriting flexibility and adviser support will all be key to ensuring that later life lending continues to evolve in a responsible, sustainable way.”