Seer Green advisor Matt bird comments in today’s FT Advisor.
Matt says, “One of the primary reasons is all the interest-only mortgages that were taken out prior to the credit crisis. People are having to remortgage with longer terms, pushing them into older ages than if the option had not been available.”
He added that many people would be forced to work longer to pay down their debts, but such a strategy can come with risks attached, such as the possibility of health problems in later life.
You can read the full article here