Equity Release Council comments on UK Finance later life mortgage lending update

28 May 2026

Jim Boyd, CEO of the Equity Release Council, commenting on the data said:

“Retirement is increasingly becoming a balancing act between pensions, savings and property wealth, and today’s figures reflect that shift.

“The fall in lifetime mortgage activity mirrors the more cautious mood across the wider mortgage market, with economic uncertainty and pricing pressures continuing to slow decision making. However, demand clearly has not disappeared.

“The Pensions Commission has recently reported that 15 million people are currently not saving adequately for retirement. As pension pressures continue to build, housing wealth will play a growing role in helping drive financial resilience in later life. Modern later life lending products have transformed significantly in recent years, with greater flexibility and stronger consumer protections helping accelerate confidence across the market."