According to data from trade body UK Finance, new late-life loans increased by 18.4% in the third quarter, with a total of 39,950 loans issued.
The value of the loan was £6.5 billion, an increase of 24.7% on the same period last year.
There were 6,040 new lifetime mortgage loans in the third quarter, a year-on-year increase of 3.4%.
The loan is valued at £530m, an increase of 3.9% on the same period last year.
There were 335 retirement interest-only mortgages in the third quarter, an increase of 11.7% year-over-year.
The loan is valued at £30m, an increase of 11.1% compared to the same period last year.
The UK Treasury said residential later life loans accounted for 7.84% of all residential loans in the third quarter.
Buy-to-let senior loans accounted for 21.74% of all buy-to-let loans in the third quarter.
Later life lending also grew in Q2 2025, with 33,130 new loans issued to borrowers aged over 55, up just 0.49% on Q2 2024, while the value of loans was £5.2 billion, up 3% on the same period in 2024.
