Thursday, November 24, 2005

Never Ending Debt

Never Ending Debt

According to the Office for National Statistics, approximately 600,000 people over 65 still have a mortgage. This figure means that 10% of pensioners are still paying mortgages.

Apparently many pensioners are remortgaging, at expensive rates, because of a shortfall on their endowment mortgages.

It seems that a lifetime of debt is what many owners of these useless policies have to look forward to.

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