Around 304,400 new loans were advanced to older borrowers in Q2 this year, a fall of 38.5 per cent year-on-year, figures have revealed.
According to UK Finance, the value of new loans later life lending was £4.3bn, a decrease of 45.7 per cent from the same period last year.
The report also showed that there were 7,170 new lifetime mortgages advanced in Q2, down 43.8 per cent year-on-year.
UK Finance said that the value of this lending was £550m, a fall of 63.8 per cent from the same period last year.
The report continued that there were 265 retirement interest-only mortgages (RIO) advanced in Q2, down 52.3 per cent year-on-year.
The value of RIO mortgage lending was £26m, a decrease of 55.9 per cent from the same quarter last year.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
