Over 50s turn to equity release to clear £30K debt
As the cost of living continues to rise, and with mortgage terms often stretching into later life, some over 50s are carrying debt well into retirement. New research from SunLife’s Life Well Spent 2025 report reveals that nearly half (45%) of those aged over 50 are still managing debt, with the amount of overall debt left to pay averaging £23,799 - rising to an average of £33,590 for homeowners over 50. Unsurprisingly, mortgage debt remains the biggest burden. Increasing rates and the cost of li
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