Thursday, February 13, 2025
HomeMortgageLifetime mortgage borrowers enjoy 25% annual rise in property values – Pure...

Lifetime mortgage borrowers enjoy 25% annual rise in property values – Pure Retirement



Pure Retirement’s new lifetime mortgage borrowers have seen their average property values rise by 25% over the year, the lender said.

An analysis of its borrower base showed that in Q4, the average property value on its book was £400,900. Although the usual end-of-year lull meant this was lower than the mid-year peak of £423,000, this was higher than the average of £391,300 during the same period in 2023. 

Some 39% of new business in Q4 came from borrowers with properties worth between £250,000 and £399,000, up from 37% in Q3. Around 24% of new plans were from homeowners with properties valued between £400,000 and £699,000, lower than 27% in the previous quarter and 25% the year before. 

In contrast, the share of new lifetime mortgages taken out by borrowers with homes worth between £700,000 and £999,000 was at its highest point that year, making up 7% of the lender’s new business in Q4, compared to 5% in Q3 and 6% the year before. 

Paul Carter, CEO of Pure Retirement, said: “The latest quarterly figures demonstrate the variety of customers that lifetime mortgages continue to serve.

“Irrespective of the value of their property, many people continue to see lifetime mortgages as an effective route to reaching their financial goals, and we look forward to continue offering a range of lifetime mortgage solutions suitable for a range of circumstances.” 


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