Just transitionESBThe figures show that the overall level of mortgage arrears – 6.8 per cent – is slightly lower among those over 50 who still have debt outstanding than in the general population, where some 8.5 per cent of mortgages are in arrears.
However, it is clear from the data that thousands of people are in serious difficulty already. There are almost 7,500 people aged 60 and above who are in serious long-term arrears of 360 days or more. Age Action called on the Government to address the issue of income inadequacy among older cohorts, many of whom it says will face severe challenges with the cost of living, including any remaining mortgage debts, as they age.
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