Nearly half of UK homeowners now have a mortgage they will still be paying after they retire, a figure that has almost doubled since 1992, Abbey research suggests.
The provider's latest Savings Insight report reveals that nearly three quarters (71%) of this country’s homeowners are relying on capital appreciation as a substitute for long-term savings. At the same time, six out of ten, or 28 million Britons admit they are not regular savers leaving 12 million UK homeowners potentially exposed to the property market as a means of providing for their old age. Abbey’s research shows that there has been a very gradual increase in the number of savers over the last 12 years. During this time, the increase has been so small that if it were to continue a...
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