mortgage payments

Number of borrowers paying a mortgage into their 70s increases 156% in five years

22nd January 2025 Consumer Lending | #mortgage payments

New Freedom of Information (FOI) data from the Financial Conduct Authority (FCA) analysed by Quilter has revealed a significant rise in the number of people taking out mortgages with a term of 35 years or more, which will see them paying off their loans well into their 70s. In the first nine months of 2024…

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One in ten not confident on mortgage repayments

2nd October 2024 Arrears and Recoveries | #mortgage payments

According to Compare the Market’s latest Household Financial Confidence Tracker, over one in ten (13%) admit they are not confident in their ability to meet their mortgage repayments over the coming months. 57% of mortgage holders say they are unlikely to switch their mortgage to a new deal while rates remain at current levels. By contrast,…

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Seven million households struggling to keep up with rent or mortgage payments

27th September 2023 Arrears and Recoveries | #mortgage payments

An estimated seven million households are struggling to keep up with their rent or mortgage payments, with millions more at risk of tipping into financial difficulty by the end of 2024 as they remortgage at higher rates according to analysis by Which?. A survey of 4,000 people found nearly half of households (46%) with mortgages…

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