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Most Later-Life Borrowers Using Loans to Help Family
Original: retirement
New figures reported by Financial Reporter show that 63% of later-life clients who borrow do so to provide financial help to family members. The finding suggests many older borrowers are drawing on equity or credit not for themselves but to support children or grandchildren, highlighting how intergenerational financial pressures are now shaping retirement lending decisions across the UK.
Why now: The statistic sheds light on how family financial strain, rather than personal need, is driving borrowing among older people.
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Evidence
- 63% of later life clients borrow to help family members · Financial Reporter
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