According to the latest figures from the Office for National Statistics*, the UK's population of older adults continues to grow. As of mid-2023, there were over 12 million people aged 65 and over in England and Wales, representing 19.7% of the total population. Additionally, there were approximately 14,850 centenarians, more than double the number in 2002.
This demographic shift underscores the growing demand for later life lending. Many individuals in their seventies, eighties, and beyond are exploring ways to borrow money or access the equity in their homes to support their financial goals. Lenders have responded with an expanding range of products tailored to this market.
But how do you effectively market later life lending in today’s environment?
It’s essential to clearly communicate what later life lending entails. Demonstrate the opportunities it provides for older individuals who wish to release equity from their homes or take out new mortgages. Highlight scenarios where it can make a significant difference:
It’s crucial to address any lingering misconceptions, particularly those tied to equity release or lifetime mortgages, which have historically had mixed reputations. Explain how the market has evolved, emphasising modern safeguards, flexibility, and a broader range of solutions.
2. Provide Balanced, Expert Guidance
Position yourself as a trusted adviser. Highlight that while later life lending offers valuable solutions, it is not suitable for everyone. Make it clear that you assess each client’s situation individually, ensuring their needs, circumstances, and long-term goals are carefully considered.
Showcase your expertise in this specialised area and your relationships with niche lenders. Discuss how this enables you to offer bespoke solutions tailored to older clients. Including examples or anonymised case studies can help prospective clients relate to the options available. For instance:
Consider your audience carefully. Are you speaking directly to the older generation, or are you targeting their adult children who may be researching options on behalf of their parents? Adjust your messaging and platforms accordingly.
For example, older audiences might prefer straightforward, easy-to-read materials, while younger family members may engage more with online resources like blogs, guides, and social media content.
A dedicated section on your website for later life lending can enhance your credibility and position you as an authority in this niche. This page can serve as a hub for guides, videos, case studies, and FAQs. It also makes it easier for prospective clients to find relevant information without navigating through unrelated content.
Understanding where your prospective client is in their decision-making process—known as the buyer’s journey—can help you tailor your marketing materials effectively.
The later life lending market continues to evolve, with new products and regulatory changes. Stay ahead by keeping your knowledge current, and ensure your marketing reflects the latest developments. This demonstrates your commitment to serving clients with up-to-date solutions.
By following these steps, you can position yourself as a trusted expert in later life lending, building stronger relationships with your clients and helping them achieve their financial goals.
by Jeremy Duncombe
Added 10/02/25 - min read
by Jeremy Duncombe
Added 06/02/25 - min read
by Jeremy Duncombe
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