Mortgage debt like ‘an anvil hanging over my head, just waiting for it to drop’

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Over 34,000 mortgages held by people aged 60 or above who still owe at least €100,000

Party finance spokeswoman Joan Burton, shows for the first time the number of people approaching, or already at retirement age, who are failing to deal with significant mortgage debt.

The problem is more difficult for those who, like Claire, are facing serious arrears on their family home mortgage. “Becoming a social housing tenant in sheltered accommodation for many people is not an option, because that accommodation has not been built by local authorities in any significant numbers,” she says.

 

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