ON REACHING retirement age, people may assume their borrowing days are behind them, especially after years of saving into a pension pot or managing an investment portfolio. But the reality is that, as life expectancy increases, borrowing into later life is becoming more common.
There has been growing demand for mortgages from the over-55s, according to finance trade body UK Finance’s quarterly insight into mortgage lending. And more than half of new homeowners are expected to have a mortgage past the age of 65.
With more people borrowing
