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More than 1.3m households aged over 55 are still paying off their mortgage, with 289,000 over-65s owing money on their home loan. An analysis of households in England and Wales showed almost a fifth of over-55 households are still paying a mortgage, according to equity release firm More 2 Life. That figure dropped to about 7pc when applied to over-65s households. Jon King, managing director of More 2 Life, said: “There clearly is a potential mortgage time-bomb with home owners paying off loans way past traditional retirement dates. “For many that it is not an issue but for substa