Around one in seven homeowners will be forced to delay retirement so they earn enough to meet their mortgage repayments. New research shows that 14 per cent of mortgage borrowers anticipate that they will still be paying off the loan when they are over 65.

More than 20 per cent say they will not make their final payment until they are aged between 60 and 65.

But even those who have paid off their mortgage may be forced to work into old age. More than 40 per cent of homeowners say paying their monthly mortgage bills prevents them from saving for their retirement.

Younger homeowners are also being hindered by the financial strain of meeting their mortgage payments, according to The One Account, the mortgage lender. Nearly 20 per cent of 25 to 29 year olds said the financial pressure of paying their home loan was forcing them to put their plans for a family on hold.

Debbie Milsom, of The One account, says: "Paying off a mortgage should not mean that people have to put their life plans on hold. It is worrying that homeowners perceive that it will take them until they are in their 60s before they pay it off when they should be spending this time preparing for their future."

Earlier this month, mortgage experts criticised a deal which allows parents to pass their homeloan debt on to their children. Malcolm Hurlston, chairman of the Consumer Credit Counselling Service, called Kent Reliance Building Society's deal a "a Louis XV loan".

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