"The analysis, based on more than 1,000 Key Group customer cases agreed between Q2 2024 and Q1 2025 (data to 31 March 2025), points to a decisive change in how later-life homeowners are using property wealth. Over the period, the share of new plans taken primarily to repay an existing mortgage rose from 36% in Q2 2024 to 63% in Q1 2025, indicating a stronger focus on reducing monthly financial pressure and improving stability."
"Alongside this shift in purpose, the average initial release increased by 13.3% to £62,930, rising for the first time in three years. Taken together, the figures suggest that customers are not only prioritising essential financial goals, but are also taking larger upfront amounts when they choose to unlock equity. A move away from optional spending Key Group describes the trend as "The Great Re-prioritisation", and the supporting data shows a clear reordering of spending intent."
More than 1,000 Key Group customer cases agreed between Q2 2024 and Q1 2025 (data to 31 March 2025) show a decisive change in how later-life homeowners use property wealth. The share of new equity release plans taken primarily to repay existing mortgages rose from 36% in Q2 2024 to 63% in Q1 2025. The average initial release increased by 13.3% to £62,930, the first rise in three years. Discretionary uses declined sharply: home improvements fell from 14% to 5%, property purchases from 7.9% to under 2%, and vehicle purchases from 7.7% to 3.9%. Quality-of-life spending and family support remain secondary but more constrained.
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