Mortgages hang over more retirees 30 October 2014 4:27PM John Kavanagh The number of people expecting to retire with money still owing on a mortgage has increased by almost ten per cent over the past couple of years.According to the latest RaboDirect Financial Health Barometer, the proportion of people who expect to retire with no mortgage debt has fallen from 72 per cent in 2012 to 69 per cent last year and 67 per cent in the latest survey.Nine per cent of respondents said they would work longer than they otherwise would have, to pay off the mortgage.Of the remaining 24 per cent, about half said they would sell their property to pay off the mortgage then buy a cheaper property. Others said they would use their superannuation benefit to pay the debt or use other investment assets.In Sydney, the number who said they would retire without having paid off the mortgage was higher, at 30 per cent.Baby boomers were more inclined to say they would use their super or other investments to pay off the mortgage, while younger people said they would sell their property to pay off a mortgage at retirement.RaboDirect found there was a heightened level of anxiety among those who will not have their mortgage paid off by the time they retire, with the proportion who said they were concerned about the situation significantly higher than in previous years.Among the other survey findings, a higher proportion of people said they were more confident that their superannuation would fund their retirement.