Reference Case Number: FOI10801
Freedom of Information: Right to know request:
- The value of mortgages taken out by people over the age of 60
- The value of mortgages taken out by people over the age of 70
If you are able to isolate the value of equity release mortgages, I would like you to remove this from the above requests and provide this as separate data.
I would like the data broken down for the last five 12-month periods with a year-end date of October 31. If you cannot provide data for this year end date, then please provide data for whichever year-end is used internally. If you cannot provide date broken down for the last five 12-month periods, then please provide data broken down for the last four 12-month periods. If you cannot provide data broken down for the last four 12-month periods, please provide data for the last three 12-month periods. If you cannot provide data broken for the last three 12-month periods, please provide data for the last two 12-month periods.
FCA response:
We can confirm that we hold the requested information which can be found in the table below.
Date Range | Lifetime Sales (£) | Non-Lifetime Sales (£) | Total Mortgage Sales (£) | |||
|---|---|---|---|---|---|---|
| >60 years | >70 years | >60 years | >70 years | >60 years | >70 years | |
| Q4 2018 - Q3 2019 | 2,982,653,953 | 1,738,026,160 | 5,217,020,346 | 988,941,354 | 8,199,674,299 | 2,726,967,514 |
| Q4 2019 - Q3 2020 | 3,128,758,932 | 1,835,345,044 | 4,632,080,235 | 851,765,005 | 7,760,839,167 | 2,687,110,049 |
| Q4 2020 - Q3 2021 | 3,924,520,048 | 2,311,536,238 | 9,098,376,382 | 1,390,903,783 | 13,022,896,430 | 3,702,440,021 |
| Q4 2021 - Q3 2022 | 5,264,516,707 | 3,066,392,407 | 13,867,507,116 | 2,096,753,562 | 19,132,023,823 | 5,163,145,969 |
| Q4 2022 – Q3 2023 | 2,715,139,299 | 1,503,517,883 | 13,277,287,977 | 1,895,797,496 | 15,992,427,276 | 3,399,315,379 |
Source: FCA Product Sales Data (PSD001)
In considering the table above, please note the following:
- Internal product transfers, further advances are included in the data from Q2 2021 onwards.
- Lifetime/non-lifetime equates to equity release/non-equity release.
- >60 years: main borrower aged more than 60 years.
- >70 years: main borrower aged more than 70 years.
- Please note that the two age categories are NOT mutually exclusive i.e. there is no upper bound to either category; the category for >70 years is a subset of the category for >60 years.