The share of fairness launch debtors taking out cash to help members of the family has elevated by 9 proportion factors from 13% to 22% over the previous yr, in accordance with Canada Life.
Comparing figures from the primary half of 2024 to the primary half of 2025, the later life lender recorded the rise.
It signifies that giving cash to household is now the motivation behind nearly one in 5 fairness launch mortgages, up from round one in seven a yr in the past.
However, residence enhancements and variations was the most typical purpose for searching for a lifetime mortgage this yr, cited by 43% of debtors.
This has overtaken the purpose of clearing present mortgage money owed, which was the motivation for 27% of debtors and has been the highest driving issue for later life loans between 2018 and 2024.
Today’s statistics are in opposition to a backdrop of rising demand because the Equity Release Council reported lending was up by 10% from Q2 2024 to Q2 2025.
Changes to convey pensions inside the scope of inheritance tax from April 2027 could also be a contributing issue to households seeking to move on their housing fairness.
Canada Life additionally studies a 7 proportion level year-on-year enhance lifetime mortgages getting used for day-to-day dwelling prices from 20% to 27%.
It additionally data a 12 proportion level rise in loans getting used for emergency funds from 9% to 21%.
