Rise in male borrowing
The total number of single male borrowers increased by 22% during the first half of this year compared with the same period in 2025, while the total value of lending to this group more than doubled. Their share of borrowing to spend on home improvements increased from 11% to 31%, and their share of using funds to provide a living inheritance to family grew from 7% to 36%.
Spry Finance CEO John Moriarty said: “More older homeowners are looking at the equity built up in their homes as a way to help fund retirement. What’s interesting about these figures is that growth isn’t coming from people borrowing more – it’s coming from more people taking out lifetime mortgages.
“As demand for lifetime mortgages continues to grow, we remain firmly focused on responsible lending and delivering the right outcomes for our customers. These products can play an important role in later-life financial planning, but they are not the right solution for everyone. That is why we invest significant time in helping customers understand their options and make informed decisions.
“It’s encouraging that while we are supporting more customers than ever, average borrowing levels have remained steady and well within available lending limits, which underlines the careful and considered approach our customers are taking.”
Retirement income
Spry Finance’s figures show that supplementing pensions and retirement income remained one of the largest uses of lifetime mortgage funds, increasing by 29% year-on-year to almost €7.8m.
Borrowing for home improvements increased by 40% to almost €4.9m, while refinancing increased by 18% to almost €5m. By contrast, the amount released from properties for gifting as a living inheritance fell by 21% year-on-year.
People aged between 65 and 84 continued to account for the vast majority of Spry Finance customers, representing 82% of lifetime mortgages taken out during the first half of the year.
Growth across Ireland
Dublin remained the largest market for lifetime mortgages, with the value of lending in the capital increasing by 27% year-on-year to €7.4m.
Growth in customer numbers was also recorded outside Dublin. The number of lifetime mortgages taken out increased by 35% in Cork and 46% in Wicklow.
Mr Moriarty added: “Dublin remains our largest market, but growth isn’t confined to the capital – we’re seeing more homeowners in other parts of the country choosing lifetime mortgages.”
