| Related: | Personal Finance•Money•Mortgages |
Hi alanp26 and welcome to the forum.
This is an interesting question and the usual answer tended to be subject to sufficient income in retirement to support the loan. However, I am hearing from mortgage brokers that finding such mortgages is becoming harder as lenders are tending to turn away from 'later age' lending. One of the problems of course is the ability to evict via the courts when the age of the borrower becomes very much a 'social conscience' issue. But with increasing government pressure to abandon the default retirement age and eradicate 'ageism', the lenders are not responding as you would expect. I would imagine that every lender takes every case on its merits and perhaps a decent mortgage advisor may have experience here.
Very interesting page I found on this very issue!
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