The volume of BTL loans for borrowers over 55 years old registered in Q4 2023 has dropped by over 52% year-on-year, revealed the latest UK Finance data.
According to the new research, 7,980 later life BTL loans were provided in the last quarter of last year for both house purchases and remortgages, representing a 52.86% drop year-on-year.
These loans totalled to just under £1.3bn, 56.12% lower compared to the same quarter the previous year.
Overall, later life BTL loans in the fourth quarter of 2023 represented approximately 22% of all BTL loans.
