Higher proportion of Buy To Let mortgage borrowers are older

The UK Finance data for Q1 2025 shows a significant rise in later life lending, with older borrowers increasingly taking out mortgages:

• 38,510 new loans were advanced to older borrowers (aged 55+), up 33.5% year on year.
• The total value of these loans reached £6.1 billion, a 42.6% increase from the previous year.
• 5,620 new lifetime mortgages were issued, up 11.1%, with lending value rising 39.5% to £530 million.
• 339 retirement interest-only mortgages were advanced, up 19.4%, with lending value increasing 17.9% to £33 million.
• Later life loans account for 7.6% of all residential loans and 21.5% of Buy-To-Let loans, showing a higher-than-average proportion in the BTL sector.

This trend highlights growing demand for later life lending, particularly in the Buy-To-Let market.