The findings, based on 4,507 people aged 55+ who released equity in their home with the equity release specialist in 2007, show that there has been an 20% rise year-on-year in the average amount of mortgage debt owed by those in, or nearing retirement. Further analysis shows a third of all over-55s have outstanding mortgage debt, while 35% of those aged 60-69 and 29% of those 70 years and over still have mortgage repayments to make.

Full story: yourmortgage.co.uk