As difficult as it has been at times through life’s considerable ups and downs to keep hold of the family home, I sorely feel for the misnomered Generation Rent, which isn’t a cohort of folk of similar age but rather a hearty mix of younger and older people caught in the wedge of Morton’s Fork.

For those who don’t know – I didn’t until very recently – the 15th century English prelate John Morton decided in his capacity as Lord Chancellor under Henry VII to raise taxes that were known at that time as “benevolence” to the king. He justified this by reasoning that those living modestly must be saving their money while those living lavishly were obviously rich, so all could afford to pay. Thus his name became attached to the allusion Morton’s Fork – a false dilemma in which contradictory observations lead to the same conclusion.

It’s a perfect description for the situation facing many who have not bought or are not in the process of purchasing their home, and while some property owners may choose at this point to turn their face away, the struggles of Generation Rent will be a sizable problem for all in the not-too-distant future.

Data released yesterday which was obtained by a Freedom of Information (FoI) request by former Lib Dem pensions minister Steven Webb shows that homebuyers are increasingly being forced to gamble with their retirement prospects by taking on ultra-long mortgages that last beyond the end of their working lives.

Longer borrowing terms bring down monthly mortgage costs and can mean the........

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