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More than a quarter of tenants risk becoming "OAP mortgagees" after getting stuck in a cycle of long-term home rental, a study has found.
It revealed that 27 per cent of those who feel "trapped" in the rental system are over the age of 40.As a result, by the time these tenants are able to afford their own home, they could still be paying off their mortgages in their 70s.
The majority of those who rent fall into this category of "trapped renters", the survey revealed, with 55 per cent of tenants unable to afford to buy a house.
If people in this group are ever able to buy their own property, they face paying off their mortgage in a shorter time or becoming an "OAP mortgagee", the study by...Read more here--> Millions paying mortgages in their 70s - Telegraph
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