'Shocking' numbers to retire with mortgage debt, finds poll

Figures from The Equity Release Council, the trade body for equity release companies, suggest that, over the next 30 years, 403,908 people will retire with an average of £52,446 still outstanding on their mortgage. The findings were based on a survey of some 2,000 borrowers. Andrea Rozario, director general of The ERC, said: "Many people find that, due to unforeseen circumstances, they enter retirement with a small amount of debt, but the fact that over 400,000 people expect to still be repaying their mortgage when they retire is shocking." A fifth (23%) of those aged 55-64 believe...