Ageism Lending

May 12th, 2015

The Council of Mortgage Lenders has added its weight to the campaign against lending ageism, saying lenders should take all factors into account and not just apply arbitrary age-related lending rules. It pointed out that by 2023 over 24% of the population will be aged over 65, so later final repayment dates for loans are likely to become normal. The Sunday Times reported another case of blatant ageism affecting a reader, who had been refused an extension to his mortgage term past age 70 despite having a big index-linked pension and 75% equity in his property