Golden Leaves & Golden Years: Autumn Insights into Later Life Lending

October 2025

Welcome to the October edition of the Later Life Property Finance Ltd blog. As autumn leaves gather and the mornings turn crisp, we take a fresh look at the most important trends in property finance for those aged 55 and over. This month, we shine a torch on the rising popularity of later life lending in the UK, and why equity release is playing a bigger part in helping families through the golden years. Plus: autumn curiosities that might just help keep the financial ghouls at bay!

Autumn Leaves, Autumn Choices

October is often a month of change — not just in the garden, but in our finances too. Warm days grow fewer, conkers start to appear, and there’s an urge to tidy up loose ends before winter sets in. For many in later life, that now includes reviewing what options for our homes and savings can offer.

Later Life Lending: Fast Becoming Mainstream

It’s official: borrowing in later life is more common and more accepted than ever before. UK Finance data shows that in Q2 2025, over 33,000 new loans were made to older borrowers. That’s a market worth over £5.2 billion, with lifetime mortgages alone growing by nearly 4% year-on-year.

Why the rise? The UK is getting older on average, and property prices remain high, leading many to stay in their homes for longer. With the cost of living in focus and interest rates showing signs of settling, more people are using their property wealth to fund home adaptations, clear mortgages, or simply bolster day-to-day finances. Lenders are responding by offering flexible products, and it’s increasingly accepted to discuss borrowing well into retirement — something that was rarely talked about just a decade ago.

Equity Release for Gifting: Helping the Next Generation

One of the most striking changes in 2025 has been the rising number of people unlocking equity in their homes to support loved ones. Research shows that 22% of equity release borrowers in the first half of 2025 used their funds for family gifting, up from 13% last year. Whether it’s helping with house deposits, university fees, or day-to-day costs, more families are finding ways to offer a “living inheritance.”

There are pros and cons to this approach:

• Pros: Enables children or grandchildren to enjoy support when they need it most; can reduce future inheritance tax depending on timing and rules; provides peace of mind for the giver who can see the difference they're making in real time.

  
  

• Cons: The amount released is a loan secured on the property and will reduce the value of any eventual inheritance; interest rolls up and increases the balance over time; family conversations and legal advice are essential to ensure everyone’s protected and informed.

  
  

Thinking of using equity release for family support? Always get independent legal and financial guidance before making changes to your estate plans.

Autumn Odds & Ends: A Financial Harvest

• Pumpkin Economics: Over 15 million pumpkins are grown in the UK annually, but most are carved and tossed away, a reminder to check for subscriptions or direct debits providing no real value… don’t let your money rot!

  
  

• The Taxman’s Favourite Season: October 31st isn’t just Halloween, it’s also the cutoff for paper self-assessment tax returns in the UK. The penalties for missing it definitely aren’t a treat.

  
  

• Owl-tober? In medieval times, October was “Win-tir-fylleth,” or “winter full moon.” Now, for many, it’s simply “the month before Christmas shopping panic” another fright for the finances!

  
  

• The Clock Strikes Twice: Don’t forget, the clocks go back soon, an extra hour between the sheets, or maybe an hour to review household bills!

  
  

• Fear Factor: Cooler, darker evenings lead to more “treat” spending. Watch for scary “spooky deal” offers, not all are as good as they seem.

Wishing you a fruitful, scam-free, and comforting October. And if you find a spare pumpkin, why not make soup? Your household and your bank balance will thank you for it!

Have a topic you would like us to cover next month? Let us know and do not forget to share your favourite joke from this month’s blog! 

If you have questions about later life mortgages or just want to share your best picnic story, we would love to hear from you.  

The team at Later Life Property Finance 

An equity release mortgage may not be the best option for everyone. It is vital to consider other financial alternatives and consult a professional adviser to ensure it meets your needs and circumstances.