Retirement: Banks offer ‘later life’ mortgages to meet UK ageing population – The Florida Post

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About Age UK Age UK is the country’s largest charity dedicated to helping everyone make the most of later life. We believe in a world where everyone can love later life and we work every day to achieve this. We help more than 5 million people every year, providing support, companionship and advice for older people who need it most. The Age UK

An additional 15 states will join Maine in crossing this threshold by the year 2026, and as many as 12 additional states after that will meet the same criteria just four years later. "Across the country, the number of seniors will grow by more than 40 million, approximately doubling between 2015 and 2050, while the population older than 85 will come close to tripling," writes Stein.

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Exclusive figures obtained from the Financial Conduct Authority via a Freedom of Information Act request show that just 112 retirement interest-only mortgages were sold last year.

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Finance News | By admin Retirement: Banks offer ‘later life’ mortgages to meet UK ageing population MORE banks are now offering mortgages specifically designed for older borrowers and retirees, figures reveal. Lenders are clamouring to launch new products and change existing terms to meet an ageing population.

average savings rates by income Take a look at this fantastic chart by economists emmanuel saez from my alma mater, UC Berkeley, and Gabriel Zucman from the London School of Economics. The dotted line shows the often quoted 4% figure, which is made up of the bottom 90% of income earners.