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flag 42% of Q4 2023 new mortgages have terms beyond state pension age, raising concerns over retirees' financial security.

flag Former pensions minister Sir Steve Webb warns that young home buyers are taking on ultra-long mortgages, putting their retirement prospects at risk. flag Bank of England data reveals 42% of new mortgages in Q4 2023 had terms beyond the state pension age, increasing from 31% in 2021. flag With a growing number of people choosing longer repayment periods to control costs, the trend raises concerns over the financial security of retirees.

12 months ago
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