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The Guardian - UK
The Guardian - UK
Business
Hilary Osborne

Rise in ultra-long mortgages ‘poses risk to UK retirement prospects’

Steve Webb
A couple looking in an estate agent's window
Figures show the proportion of home loans arranged to last into retirement increased from 31% in the last quarter of 2021 to 42% in the same period last year. Photograph: Tim Ireland/PA

Homebuyers are increasingly being forced to “gamble” with their retirement prospects to get on the housing ladder by taking on ultra-long mortgages lasting beyond the end of their working life, it has been claimed.

More than a million mortgages that stretch beyond the borrower’s state pension age have been arranged in the last three years, figures show.

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