Looking Ahead: Helping Clients Unlock the Value of Homeownership in Later Life

Homeownership has long been central to financial security in the UK. Yet the way people experience it is changing. Increasingly, individuals are carrying mortgage debt for longer.

That doesn’t mean these consumers are worse off; they still enjoy the benefits and stability of homeownership. But it does reshape how advisers think about housing wealth as part of long-term financial planning.

Retirement Realities and Housing Wealth

Recent projections suggest that 43% of people are under-saving for retirement, and that estimate assumes high homeownership rates. The question for advisers and consumers alike is clear:

How will households meet retirement goals, ongoing needs, and potential care costs?

The answer may lie in the responsible use of later life lending products. The equity release market has an opportunity, and arguably a duty, to help clients unlock wealth at the right time. These products should offer fair value, integrated within a comprehensive financial plan, rather than being treated as a last resort.

Evolving Later Life Lending Products

The legacy of the 1990s still casts a shadow. Some consumers, and indeed some advisers, remain cautious about equity release. The recent findings of the FCA show that advice and promotion standards still need improvement.

Yet much has changed. Today’s lifetime and retirement mortgages are more flexible, more transparent, and increasingly suited to a broader range of clients. Many consumers are already benefiting, but many more could, with the right advice and support.

Breaking Down the Advice Silos

Advice and support will be crucial in helping consumers navigate their later-life options. However, across pensions, investments, and mortgages, advice is too often siloed. Even within mortgage advice, there remains a divide between mainstream advisers and equity release specialists.

For consumers, who might engage with each of these sectors only a handful of times in their lives, this fragmentation creates confusion and risk. They’re asked to make critical, one-off financial decisions without seeing the full picture of their options.

A Shared Goal for the Industry

Whatever form the solution takes, the goal remains clear:

An industry that supports consumers to fully understand their options, receive timely and appropriate advice, and access products that deliver positive outcomes and fair value.

That vision will demand collaboration, between advisers, lenders, regulators, and support services, but the potential rewards are enormous: a generation of homeowners empowered to make informed, confident choices about their financial futures.

Strong referral pathways between mainstream mortgage advisers and later life specialists can play a key role in improving consumer outcomes. A clear, referral process with a trusted adviser such as Key Partnerships, gives clients access to the expertise they need at the right moment, while ensuring advisers remain confident their customers are receiving appropriate, specialist guidance.