Reference Case Number: FOI9189
Freedom of Information: Right to know request:
a) Can you tell me how many lifetime mortgages were sold in Q1 2022 and Q1 2021, broken down by the total released?
b) Can you please also clarify whether the data you can provide includes money drawn down from lifetime mortgages that were arranged in an earlier quarter or drawdown facilities arranged in the relevant quarter but not yet used by the borrower.
FCA response:
Question A
Please see the table below, which details from our Product Sales Data (PSD001), the number of lifetime mortgage sales in Q1 2021, broken down by the loan value band.
Please note that we do not yet have the data for Q1 2022.
|
Loan value band |
Number of sales |
|---|---|
|
£0 - £50,000 |
4,000 |
|
£50,001 - £120,000 |
4,044 |
|
£120,001 - £250,000 |
1,804 |
|
£250,001 - £500,000 |
522 |
|
£500,001 + |
161 |
|
Total |
10,531 |
Question B
The data we have provided is on lifetime mortgage sales which completed during the reporting period, ie. in Q1 2021. The value of the loans includes the amount of the initial advance only. It does not include any subsequent drawdowns. We do not collect data on further drawdowns.