The Equity Release Council comment on UK Finance later life mortgage lending data

26 August 2026

Jim Boyd, CEO of the Equity Release Council, commenting on UK Finance’s data said:

“Today’s figures show the later life lending market continuing to evolve as housing wealth becomes an increasingly important part of retirement planning. The 8% quarterly increase in new lifetime mortgages, alongside growth in retirement interest-only lending, reflects the range of options available to older borrowers as they look across their assets to support their financial needs in later life. The FCA’s recognition of later life lending as a potential fourth pillar of retirement funding, alongside pensions, savings and investments, reflects the reality that people are increasingly looking across a wider range of assets to support their financial needs in later life.

“This is about more than market growth. It is about ensuring consumers can access the right guidance and advice to make informed decisions about all their assets. With the Pensions Commission highlighting the scale of retirement inadequacy and Fairer Finance modelling that 51% of households aged 60 and over could benefit from accessing housing wealth by 2040, the need for a more joined-up approach is becoming harder and harder to ignore. The industry now has an opportunity to build on stronger standards, greater product flexibility and the FCA’s fourth-pillar vision to deliver good consumer outcomes at scale.”