Lifetime mortgage lump sum queries rise sharply, says Advise Wise

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The average lump sum being searched for by later life borrowers has increased sharply in the past year, according to new figures from sourcing platform Advise Wise.

The firm reported that in the first half of 2025 the average amount queried for lump sum lifetime mortgages was just over £141,500, up 29% from under £110,000 in the same period of 2024. Looking at the second quarter alone, average lump sum queries rose from £112,950 last year to £142,800 this year, an increase of 26%.

Drawdown products also saw stronger demand, with the average reserve amount searched for climbing 17% year-on-year, from £57,710 to £67,820.

LUMP SUMS STILL DOMINATE SEARCHES

Lump sum options continued to make up the majority of searches, accounting for 57% of queries in the first half of the year. However, this was down from 62% during the same period last year, suggesting a gradual shift in borrower preferences.

PARTNERSHIP WITH TWENTY7TEC

The release of the figures follows Advise Wise’s recent integration with technology provider Twenty7tec, which enables advisers to access lifetime mortgage products through the mainstream sourcing platform.

Research from Twenty7tec found that 15% of first-time buyers were over 40, while the proportion aged 51 and above has risen by 80% over five years, from 2% to 3.6%.

This, the firms argue, highlights the importance of advisers considering later life lending as part of wider financial planning.

MARKET POTENTIAL
Jonathan Thirkill, chief executive of Advise Wise
Jonathan Thirkill, Advise Wise

Jonathan Thirkill, chief executive of Advise Wise, said the firm’s findings mirror recent positive statistics from the Equity Release Council and UK Finance, while also aligning with data from Pure Retirement.

“Additionally, the increase in average loan amounts being searched for tally with recent research from lifetime mortgage lender Pure Retirement – who saw 12% of new business coming from owners of properties worth at least £700,000 in Q2 – in underlining the way later life lending is appealing to a broad spectrum of demographic and wealth profiles,” he said.

Thirkill added that while interest is growing, further work is needed to restore activity to the levels seen at the peak of 2022. He pointed to the firm’s partnership with Twenty7tec as evidence of mainstream advisers increasingly embracing later life lending within holistic advice.

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