According to research from Key Retirement Solutions has revealed that a quarter of homeowners over the age of 60 still have outstanding mortgage debt.
The research showed that retired people, or those close to retirement who had not yet paid off their mortgage owed an average of £31,000 each.

A recent Times column by Stephen Gerlis, a District Judge at Barnet County Court, looks at the risks people in debt face, and the powers that creditors and courts have to take steps to recover that debt.
With 10,000 people going insolvent every month, a 65% rise in mortgage repossessions, and the UK’s population in a […]

According to figures from the Council of Mortgage Lenders (CML), the number of properties repossessed by lenders rose by 9% in the second half of 2006.
In total, 17,000 homes were repossessed in 2006, the highest number for six years. In the second half of the year, 8,860 were taken back by lenders, up from 8,140 […]

The BBC carried a story recently on a Torquay woman who lost out on £22,000 after her flat was repossessed and then auctioned by receivers.
The flat was sold by receivers at an auction in London for just £60,000, but just six weeks later it was sold on at another auction for £82,000, meaning that Mrs […]