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flag UK later life mortgage lending surged 38.6% in Q4 2024, reaching £5.6 billion despite high-interest rates.

flag Later life mortgage lending in the UK surged 38.6% in Q4 2024, reaching £5.6 billion. flag New lifetime mortgages increased by 6.7%, with their value up 24.4% to £510 million. flag Retirement interest-only mortgages also saw a 35.6% rise in number and a 34.6% increase in value to £35 million. flag Despite high-interest rates, older borrowers are confident in financing future home purchases, though concerns exist about the impact on retirement plans.

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