From The Daily Express:
Pensioners may still be paying off mortgages as soaring property prices cripple Britons
The demand for longer mortgage terms of 35 years instead of the traditional 25 years has jumped 75 per cent as cash strapped owners want to keep their monthly payments as low as possible. Coupled with the average age of a first-time buyer (FTB) rising, an increasing number of people could be paying their home loans out of their pensions in retirement....
And the standard of living among retirees could decline significantly as they struggle to pay a mortgage out of a fixed pension, experts warn... Worryingly, the trend could be exacerbated by the current cost of living crisis which is likely to see the age of first-time buyers continue to increase.
Yes, Home-Owner-Ism leads to terrible outcomes, I keep saying that. So why doesn't the Daily Mailexpressgraph just say it?
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