1 In Six Pensioners Have A Mortgage

Published / Last Updated on 16/06/2006

According to Scottish Widows bank, one in six pensioners are still paying off their mortgage, owing an average of more than £45, 000 each. 

A third of people who do not own their home outright owe more than £50,000, while one in ten have a debt of more than £100,000. 

Our view

It is upsetting that many pensioners have to take mortgages on past retirement.  Lenders should be forced to justify - beyong reasonable doubt, why this is allowed.

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