The BSA responds to the FCA's MS26/1: Later Life Mortgages Market Study, which can be found here. 

The BSA supports the FCA's review of the later-life mortgage sector as both timely and necessary, given the changing demographic and retirement trends, increased later life borrowing, and greater reliance on housing wealth to achieve financial security.

The market study is currently focused on Lifetime and Retirement Interest-Only mortgages. We call for the study to be broadened to include all viable later life lending options. This will better reflect the diversity of innovative products that are already delivering strong consumer outcomes for older borrowers. Broadening the scope will ensure future policy supports competition and innovation across the market to meet changing consumer needs.