Information on lifetime mortgages - August 2021

Could you tell me how many lifetime mortgages were rebroked to a new lender in each of the calendar years since 2010. 

Could you also tell me how many lifetime mortgages were rebroked to a new lender each month since January 2019.

How many lifetime mortgages were taken out in each calendar year since 1990 and how do these loans break down by the following interest rate brackets in each year? — >15%, >14%, >13%, >12% etc. down to >2%

Please see Annex A that contains the information requested – the data is provided across three tables.

Please note the following information when interpreting the data provided:

• The data provided is based on the product sales data reported to the FCA by FCA regulated firms, in line with their requirements under SUP16.11 of the Handbook. The data covers lifetime mortgage sales rebroked to a new lender. Internal switches with the same provider are not reported to the FCA through the product sales data reporting.
• We have provided data on lifetime mortgage sales from April 2005 up to March 2021. We do not hold the data requested on lifetime mortgage sales prior to April 2005.
• The data in Table 1 is provided by calendar year from 2010 to 2021. The year ‘2021’ represents only the start of January to end of March 2021.
• The data in Table 2 is provided by calendar month from January 2019 to March 2021.
• The data in Table 3 is provided by calendar year from April 2005 to March 2021. The year ‘2005’ represents only the start of April to end of December 2005. The year ‘2021’ represents only the start of January to end of March 2021.
• The data in Table 3 is based on the Initial Gross Rate of Interest of the lifetime mortgage, as reported to the FCA. We do not hold the data by the interest rate brackets stated in your request and have therefore provided the data we hold. This can be used to calculate the total number of sales by year and by the interest rate brackets stated in your request. Please also be aware that the data prior to January 2015 is incomplete as firms were not required to report the Initial Gross Rate of Interest to the FCA prior to this date but may have chosen to do so.
• The data may be different from other data published by the FCA on mortgage sales due to resubmissions reported by regulated firms.