The Times front page story - Banks offer home loans to last until you are 80
Aaron Strutt, from Trinity Financial, told The Times the building societies had been inundated with buyers aged over 65 who had been turned down by their banks.
“People are coming to the end of their mortgage terms and they are not qualifying for another mortgage rate and this has angered a lot of borrowers.”
“If you are 65 and after a relatively large mortgage but can only get a five or ten-year mortgage term, then lenders will only put the mortgage on a full capital repayment basis, which makes the monthly repayments unaffordable.”
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