Age 54;€365k mortgage won't be paid off by retirement

fastbuck

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Hi im 54 in current employment my wife is 53 and doesnt work, we have 4 grown up kids . Our family home has an outstanding mortgage of 365000 euro. we are repaying 1100 a month reduced interest of 1% . Currently on the second year of 5 year arrangement which has the majority of the loan warehoused but accring interest. I have to retire at age 65 .
I cannot see how we are ever going to be able to repay the entire mortgage. We are with MABS who have been excellent. I would appreciate any advice. Thank you
 
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