Older homeowners need to be able to move to competitive mortgage deals

Monday 22 June 2015

"These latest figures mask the very real issue that many older homeowners are facing.

Older homeowners need to be able to move to competitive mortgage deals

“Whilst a lucky few may have been able to take out a mortgage to move home at an older age, we're still hearing from people who are stuck in uncompetitive mortgages who are unable to move to a better deal simply because of an arbitrary age limit.

“It's simply wrong that on the one hand people are having to adapt their plans to work for longer, but on the other hand the mortgage lenders are failing to adapt to this significant economic shift. Financial institutions need to change. Lending decisions should not be based on somebody celebrating a birthday; it should be about an individual's ability to pay. "

 

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