1 Oct 2025
More borrowers using equity release
Almost one in five equity release mortgages are now taken out to provide financial support for family. Those using equity release to help out family members financially has increased from 13% in 2024 to 22% in 2025, according to Canada Life.
Finance for home improvements and adaptations was actually the top reason for applicants to take out a later life mortgage in 2025, with this being the reason for 43% of applicants.
Helping loved ones has overtaken the previous reason for taking out an equity release mortgage, which was to clear mortgage debt (27%) between 2018 and 2024.
The same research showed that 27% of applicants used later life mortgages for day-to-day living costs, which is up 7% from the previous year, and 21% of applicants required emergency funds – an increase from just 9%.
Equity release is not for everyone, but if you are looking to release money from your home to help loved ones, or make changes to your home, or another reason, get in touch with the team who will help you decide if it is the right path for you: 01628 507477.
Recent posts
Best UK Mortgage Rates this Week
Yesterday
Here are the lowest fixed mortgage rates of the week, available to first-time buyers, home movers, buy-to-let, and those remortgaging.
Call us for more information: 01628 507477 or email: team@mortgagerequired.com.
Research from Lloyds identifies the most affordable areas in the UK for first-time buyers to be able to get onto the property ladder.
On Wednesday, 13th May, King Charles delivered his speech at the House of Lords, outlining the government’s plans for the upcoming year.
Here is a summary of the housing and energy/environment points.
From 18th May 2026, Halifax (part of Lloyds Banking Group) is launching a ‘£5k Deposit mortgage’ to help first-time buyers get onto the property ladder sooner.
Homeowners could be faced with paying over £3,000 more per year on their mortgage if the conflict in the Middle East continues, following new analysis from INTEREST from Moneyfacts.
Renters' Rights Act
24 days ago
The Renter’s Rights Bill became law at the end of October, which means it has been signed off by the King, and it is now the Renters’ Rights Act. Despite this becoming law, these changes are likely to start changing within the next six months, with the aim of being fully implemented throughout 2026 and into 2027.
Green Mortgages | Rewards and Benefits
24 days ago
Mortgage lenders are starting to recognise their “Green” responsibilities when it comes to the different products they offer.
Costliest Streets in Great Britain
28 days ago
Recent data from Rightmove shows the most expensive streets in Great Britain, with the majority being situated in the capital.
More information
Trusted by
