Summary
- More than one million people have taken out mortgages in the last three years that they will still be paying off in retirement
- Average length of mortgage terms has risen to 35 years, with some lenders offering 40-year mortgages
- Ultra-long mortgages mean more debt for longer, impacting younger adults and their financial futures
- Rise in house prices, stagnant wages, and changing housing market dynamics contribute to the issue
