Around one million young Britons are “gambling their retirement” prospects by taking on mortgages due to run past the state pension age, a former pensions minister has warned. Sir Steve Webb, a partner at LCP (Lane Clark & Peacock) and former Liberal Democrat MP who served under the Coalition Government, is warning of the “shocking” number of deals which run past the retirement benefit’s age threshold. A Freedom of information (FOI) data supplied by the Bank of England found 42 per cent of new mortgages in the last quarter quarter of 2023 had terms going past the state pension age. In the same…
