This figure includes 22,000 people over 80. Some have a 'lifetime' mortgage, meaning they do not make repayments but the debt is repaid from the sale of their home when they die. But many pensioners are remortgaging at expensive rates because of a shortfall on endowment mortgages or to do improvements. They are particularly sensitive to interest rate rises because their retirement income is fixed and often limited. They risk being forced to sell their homes when they are least able to cope with such an upheaval. Many banks and building societies are prepared to give mortgages to people up to 75 because they use their homes as security.