Lending Into Retirement
An interim report by the BSA
The UK already has 11.6 million people over the age of 65. By 2034 it is estimated that around a quarter of the population will be 65 plus. At the same time a potent mix of other factors: from house prices to student debt; the divorce rate to the abolition of the default retirement age, mean that consumers are tending to buy later and go for longer repayment terms.
The BSA has listed a set of recommendations to address the change in demographics in a new report.
The press release can be found here.