Over 50s experts slam bonkers banker's lending decisionsTuesday 25 November 2014
Commenting on the report by the Intermediary Mortgage Lenders Association (IMLA), that claims that even those in their 40s are struggling to take out new mortgages due their age, Paul Green from over 50s experts Saga commented:
Over 50s experts slam bonkers banker's lending decisions
"The latest news that even those in their 40s face difficulties with obtaining or moving their mortgage deals because of their age shows just how crazy financial firms have become. People in their 40s can already see their parents having to work to far beyond 65 now, so the chances of them being able to settle into retirement at such a youthful age are going to be unheard of.
"Freezing them out of the mortgage market or leaving them in expensive deals is another example of unjustified age discrimination. Banks need to move with the times and base lending decisions on ability to pay not on arbitrary age limits".
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