LiveMore - Spring Statement comment

26 March 2025

Simon Webb, managing director of capital markets and finance at LiveMore, commented:

"The Spring Statement may have been a missed opportunity, but that doesn’t mean we stand still. If anything, it reinforces the need for the industry to take the lead in driving change for mid-to-later-life borrowers, many of whom struggle to access suitable mortgage products despite being financially responsible.

“We know the challenges – rigid affordability criteria, a lack of mortgage flexibility, and a tax system that discourages downsizing. While government support would have helped, the sector has the expertise and capability to push forward regardless. By investing in innovation, improving digital infrastructure, and modernising lending criteria in line with today’s financial realities, we can break down barriers and provide more options for later life borrowers.

“Collaboration will be key. Lenders, brokers, and policymakers must work together to make the later life mortgage market more accessible. Expanding mortgage flexibility, streamlining application processes, and developing new products that better reflect later-life incomes are all within our reach.