The Sunday Times - Co-operatvie Bank fined for lending policies
The Co-operate Bank has been forced to pay a customer £2,000 in compensation for its ageist lending policy.
Aaron Strutt of the broker Trinity Financial, told The Sunday Times: “The banks have not increased their maximum age allowances to reflect that people are working for longer, and this is forcing them to take often more expensive rates through the building societies.
“Many older borrowers find it almost impossible to secure a mortgage with the high-street banks because the criteria is so strict and it changes so dramatically from lender to lender.”
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