more2life comment on latest Equity Release Council lending figures

27 January 2026

Dave Harris, CEO of later life lender, more2life on today’s Equity Release Council figures:

“An 11% annual rise in equity release lending is welcome and shows that demand for, and understanding of, lifetime mortgages is growing among both consumers and advisers. It is also encouraging that four in five advisers expect further lending growth in 2026.

“However, these figures also hide a bigger issue. Despite the rise in lending value, the number of new customers grew by less than 1% year-on-year. Lifetime mortgages still account therefore for less than 10% of a later life lending market worth around £25bn a year. Given the range of products now available, that gap feels hard to justify.

“We believe too many over-55 homeowners, who could benefit from modern lifetime mortgages, are still not seeing them as part of their advice journey. Products have changed. Many now allow interest to be fully or partly paid, offer zero early repayment charges, and continue to provide certainty of tenure, fixed rates for life and a no negative equity guarantee. These are not fringe options. They sit alongside RIOs and mainstream later life mortgages and should be considered in the same conversation.

“There is also a clear access issue. Many advisers still do not cover later life products themselves and that can limit outcomes if referral routes are not in place. Forming strong relationships with trusted specialists should be standard practice, not the exception, if advice is to reflect the real choices available to older borrowers.

“The FCA’s ongoing later life lending study is an important step, particularly around holistic advice. But advisers do not need to wait for regulation to change. The profession can act now by making sure every customer is assessed across all suitable options. Demand is clearly there. The challenge now is to ensure advice keeps pace, so more customers can access solutions that genuinely support their later life goals.”