This suggests that many people will still have some kind of mortgage commitment when they retire. Some 12 percent of respondents were worried they may never pay it off.
There are currently around 250,000 ‘mortgage prisoners’ in the UK, but this could just be the tip of the iceberg, according to LiveMore, a lender specifically focused on working with people who have become a slave to their mortgage.
One such victim, Alan, spoke exclusively to Express.co.uk about the mortgage issues he ran into following the death of his wife.
Alan, 73, was a recent widower and was also recovering from surgery following a cancer scare when the problems arose. He explained the 18 months of dealing with these complications “hasn’t been easy.”