Still Paying Off Your Mortgage?
Retirement experts have made some shocking discoveries following research into average mortgage sizes. According to a report by Key Retirement Solutions, more than 25% of all pensioners across the UK property market are still paying off their mortgage.
And this is no small amount either…
In their study, Key Retirement Solutions found that the average homeowner has still got £45,000 left to pay on their property investment. A statistic that has left many property advisors concerned about the state of UK pensions and how these homeowners plan to survive in the future.
Commenting on this rising problem, chief operating officer of Alexander Hall, Andy Pratt, believes this increase in pensioners still paying off their mortgage can be linked to a number of key factors. Namely, the flexibility of their lifestyle…
With the average retirement age for men rising to 65, and more and more over 60’s working beyond their retirement, this has left many property owners with the option to keep this debt going, as it cheaper than applying for a new loan.
Either way, this lifestyle choice will leave many pensioners struggling to survive during their retirement years unless they can find another revenue source such as property investment to support them…
Related posts:
- Lenders Urged To Remain Vigilant Against Mortgage Fraud
- Are There Clauses Hiding Away Within Your Mortgage?
- Retired Property Owners Witness Equity Growths
- Can Mix And Match Mortgage Help Property Owners?
- Do You Know When Your Mortgage Deal Ends?
Tags: property advisors, property investment, property market, property owners
Leave a Reply