In the final quarter of 2025, 41,100 new loans were made to older borrowers, up 15.1% year-on-year, UK Finance reveals.
The value of these loans was £6.8 billion, an increase of 20.5% compared to the same quarter a year earlier.
In addition, 5,700 new lifetime mortgages were granted in the fourth quarter, unchanged from the same quarter a year earlier and a decrease of 5.6% compared to the third quarter.
The value of this loan was £510 million.
Meanwhile, 388 interest-only mortgages were issued in the fourth quarter, an increase of 13.1% year-on-year.
The value of this loan was £36 million, an increase of 2.9% compared to the same quarter a year earlier.
Later life home loans represent 8.02% of all home loans in the fourth quarter, while late life loans represent 21.4% of all BTL loans in the fourth quarter.