Author Topic: The over 50's are still paying off their mortgages  (Read 2082 times)

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The Prophet

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The over 50's are still paying off their mortgages
« on: April 03, 2012, 09:08:56 am »
An amazing 48% of those aged 50 or over are still paying off their mortgages.
They still owe on average around £68,000 and have £130,000 equity in their homes.
Most expect to have cleared their mortgage by age 58.
Around 21% own their homes outright while 1% still live with Mum and Dad.
The remainder are renting a home.

A 50-year-old, on average income, has paid a staggering £190,400 in income tax and NI during their working life.