Owners of detached properties accounted for more than four in 10 new lifetime mortgages in the first quarter of 2026, according to new data from Pure Retirement.

Analysis from the later life lender shows that 43% of new lifetime mortgages were taken out by those living in detached homes during Q1, up from 41% in the same period last year.

Semi-detached properties made up a further 35% of new lending, rising from 33.6% year-on-year, while mid-terraced homes accounted for 11.8%, down from 13.5%. End-terrace properties represented 8.6% of new plans, compared with 7.6% a year earlier.

RISING PROPERTY VALUES

The figures also point to continued growth in property values among borrowers accessing lifetime mortgages.

The average value of homes for new customers taking an initial advance exceeded £415,700 in Q1, up from £395,000 in the same period in 2025. This also marks an increase from £399,000 recorded in the previous quarter, representing a 4.2% rise.

Overall, this reflects an annual uplift of 5% in average property values among new lifetime mortgage customers.

MID-VALUE HOMES MOST ACTIVE

Activity remains most concentrated among mid-value properties, with homes valued between £250,000 and £399,000 accounting for 39% of new lifetime mortgages in Q1. This is up from 34% in the same period last year.

Borrowers with lower-value properties, defined as under £250,000, made up 25% of new plans, down from 31% year-on-year.

At the higher end of the market, properties valued at £700,000 or more accounted for 12% of new lending, equivalent to one in eight plans.

Scott Burman (pictured), head of distribution at Pure Retirement, said: “These latest figures demonstrate the continued varied customer profile of those taking out lifetime mortgages in the early months of 2026, and challenges the misconception that these products are a last resort for lower socioeconomic groups.

“If anything, our latest findings show how these modern solutions are helping Britain’s middle classes to access their property wealth to improve their standard of living.

“Ultimately with average house values rising 5% annually, 43% of new loans coming from owners of detached properties, and one in eight plans being taken out from owners of high-value homes, later life lending undoubtedly remains an effective solution for those seeking to reach their financial goals in later life, irrespective of where they sit on the economic scale.”