Men More Likely to Release Housing Equity for Debt Repayment Than Women – Pure Retirement

07 October 2025

Analysis from lifetime mortgage lender Pure Retirement has identified different customer profiles between men and women who’ve applied on a single life basis.

With the gender split closing among single life applicants in Q3 (58% female, compared to 70% at the same point last year), the lender has sought to explore the differing trends emerging between male and female borrowers.

Noticeable differences in usage trends

Pure retirement has found that men were more likely to use released funds to repay debts and mortgages than women, with 38% of new business Q3 from men listing this is as the primary reason for taking out a lifetime mortgage, compared to 30% of women. Home improvements were also a more popular reason among men, accounting for 21% of new business, compared to 18% of women.

Conversely, women were more than twice as likely to release funds for gifting to family and friends, with this particular use of funds being listed as the primary reason among 13% of women, and 6% of men.

The research also found that men were more likely to release funds to purchase a car (10% in Q3 – a reason which didn’t factor in the top five among women), while women were more like to take out a lifetime mortgage for a holiday (5%, while it didn’t factor in the top five reason for men).

The lender also noted that around 10% of both men and women released funds for the purpose of starting a contingency/emergency fund.

Other emerging demographic trends

The lender also found that while the proportion of business among low-mid value homes remained very similar among men and women, the gulf increased as house values went up. At the more affluent end of the scale, 13% of new business from single men in Q3 came from owners of homes worth at least £700,000 – compared to 3% among single women.

Additionally, among new lifetime mortgage customers single women are more likely to be widowed (38% vs 22%) and divorced (36% vs 30%), while men are significantly more likely to be unmarried (42% vs 22%).

Men are also far more likely to take out a lifetime mortgage on a lump sum basis, accounting for 72% of single male activity, compared to 58% of new plans taken out by single women.

Speaking of the findings, Chief Operating Officer Simon Hayton says:

“The differing demographic profiles, and diverse needs, between male and female single applicants serve to underline the need to not only deliver products that meet a variety of circumstances but also the importance of nuanced advice and customer service throughout the lifetime mortgage journey. Through sharing these figures we hope to widen understanding within the market to help continue to deliver best outcomes, while also using them as a foundation to enhance our own offering going forward.”

The Equity Release Council’s CEO, Jim Boyd adds: “These figures highlight how individual circumstances, life experiences and financial priorities can shape the way people choose to release equity from their homes. The fact that men and women show different patterns of use underlines why personalised, regulated advice is at the heart of the Council’s Standards. Later life lending is never a one-size-fits-all decision: it is about understanding customer needs, tailoring solutions, and ensuring people have the confidence that their choices will deliver the best outcomes for them and their families.”