More than a third of single men aged under 65 are using lifetime mortgages primarily to repay debts or existing mortgages, according to Pure Retirement’s analysis of its 2025 lending data.
The lender said 37% of men in that age group cited debt and mortgage repayment as their main reason for releasing equity, compared with 29% of single women under 65.
The figures point to a clear divide in how younger male and female borrowers are using later life lending, with women more likely to use funds for home improvements, emergency provision and family support, while men show a greater tendency towards discretionary spending.
Among single women aged under 65, home improvements were the most common use after debt repayment at 26%, compared with 20% for men. Women in the same age bracket were also more likely to release funds for an emergency fund or for gifting, both at 7%.
For younger single men, the next most common reasons after debt repayment and home improvements were cars, holidays and lifestyle improvements, each accounting for 7% of cases.
Pure Retirement said these patterns begin to narrow in older age groups, where men and women show more similar priorities. Among single borrowers aged over 80, home improvements were the leading reason for equity release for both men and women at 22%.
Gifting was the second most common use in this age bracket, cited by 16% of men and 15% of women, reflecting what the lender described as a broader trend towards living inheritances and older homeowners wanting to see family members benefit from their housing wealth.
Even so, some differences remain. Among single men over 80, holidays accounted for 12% of primary uses, followed by repaying mortgages at 10% and cars at 8%.
For single women over 80, holidays and repaying debts each accounted for 8%, alongside lifestyle improvements at 8%.
Scott Burman, head of distribution at Pure Retirement, said: “Our latest findings demonstrate the underlying versatility of modern later life lending solutions, which are in turn giving additional options for over-55s to achieve their financial goals, whatever they might be.
“While age and gender point towards very different usage patterns among the different gender and age profiles, the unifying characteristic is that they are all comfortable using the equity in their home – whether that’s for gifting, debt repayment, home improvements, holidays, or new cars.
“That bodes well for what we hope will be a strong 2026 for the sector, and points towards lifetime mortgages continuing to become an increasingly mainstream retirement solution across the demographic spectrum.”
Jim Boyd, chief executive of the Equity Release Council, added: “This is a fascinating insight into the priorities of single men and women aged 65 and 80 years when using their property wealth.
“Younger single men and women both prioritise reducing their exposure to mortgages while older cohorts prioritise home improvements.
“This could include adaptations, such as a downstairs bathroom, which could help them live longer lives independently in their own home, a preference which increases the older people get.
“Despite the many differences highlighted in this survey, it appears that peace of mind for the younger cohorts and a better living environment for the older cohorts unite both men and women.”
