The Sunday Times - New lender insists no excuse for rivals’ ageism
Britain's newest mortgage lender says there is no reason why older borrowers should be denied loans on the grounds of age.
Aaron Strutt of the broker Trinity Financial, told The Sunday Times: “Many cash-poor and asset-rich older borrowers are unable to arrange a mortgage irrespective of their financial situations.
“The combination of the demise of interest-only loans and the lenders’ insistence on mortgages being repaid by the state retirement age has left many creditworthy older borrowers unable to qualify.
“Often the mortgage terms they are being offered are too short, so the monthly repayments are high and the mortgage is unaffordable.”
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