Why more homeowners are choosing to improve rather than move

The market backdrop

UK house prices were flat in June 2026, with annual growth slowing to 2.2%. Moving house has become an expensive and logistically demanding undertaking, and many homeowners are calculating that staying and improving is a better use of their time, money, and energy than entering a chain. That calculation is driving a significant increase in demand for secured borrowing for home improvement purposes.

The range of work people are funding is broad: kitchen and bathroom refits, loft conversions, extensions, garden studios, and — increasingly — adaptations designed for longer-term comfort and accessibility. The “stay and improve” trend has been building for several years and the current combination of higher moving costs and slower price growth is reinforcing it.

How homeowners 55+ fit into this picture

For many homeowners in their 50s, 60s, and 70s, the family home represents the largest single asset they hold. It is also often a home they have lived in for many years and where significant equity has accumulated. The question of how to fund improvements — whether to modernise, make accessibility changes, or simply refresh a property that has not been updated for some time — involves a different set of options than it does for younger homeowners.

A homeowner in their 40s with a large remaining mortgage and significant income may straightforwardly remortgage to release equity for improvements. A homeowner in their 60s who has paid off most or all of their mortgage, and whose income is primarily pension-based, faces a different set of criteria when approaching mainstream lenders. The options available — and the most practical route — tend to look different at this life stage.

How equity release fits alongside other options

Equity release products — primarily lifetime mortgages — are one of the ways homeowners 55+ can access funds tied up in their property without taking on monthly repayments. Instead of a conventional loan where interest and capital are repaid each month, a lifetime mortgage rolls interest up against the property value, with the balance repaid when the home is eventually sold. The monthly cashflow impact is zero — no new payment goes out each month — and the available amount is based on property value and age rather than income.

For homeowners who want to fund a kitchen renovation, make accessibility adaptations, or carry out maintenance work on a property they plan to stay in for many years, this can be one route to the funds without disrupting monthly finances. It sits alongside — not instead of — other options like a secured loan (which does require repayments), downsizing (which involves moving), or using existing savings. The right option depends on individual circumstances.

What the Loans Warehouse data reflects is that more people across all age groups are exploring secured borrowing for home improvements. For homeowners later in life, the conversation about which product and structure fits best is a useful one to have before committing to a particular route.

Further reading