It's not just young people who are carrying the debt burden as evidence shows pensioners still have debts into their 70s.
A study conducted by Equifax, the credit information firm, reveals 42% of people aged between 61 and 70 still have a mortgage, suggesting asset management in retirement is not as relaxing as many might hope. More specifically, Equifax evidence indicates at least 29% still have mortgages at over 2.5 times their annual salary to pay off and almost one quarter (24%) are still paying towards a mortgage of up to £150,000. At the same time, the holding of this debt may be partly because parents are trying to help their children get onto the property ladder as one in eight (12%) are contributing...
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