Property News · October 17, 2016

Mortgage lenders lift upper limits to help solve an age-old problem


Previous limits on making repayments past 75 are slowly being revised, but borrowers must still have proof of incomeThe combination of an ageing population and no set retirement age means some people now want to be able to pay their mortgage until much later in life, while rising property prices and divorce mean others are not buying until they are much older.But the prospect of older people being able to get a mortgage was, until recently, minimal – no matter how low risk or good their credit score. New figures, however, show the tide is beginning to turn and lenders are raising the maximum age of repayment to 80 and beyond. Continue reading…

Source : theguardian.com
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