Bonus for Older Borrowers

July 1st, 2015

The big banks often still turn away older people who want mortgages. But the Telegraph says many regional and mutual building societies are stepping into the gap to meet their needs. It cited cases of borrowers in their late eighties securing loans.

The most common reasons older people are borrowing are to enjoy themselves, to hand on capital to children, to help children buy their own home, and to make it easier to downsize their property.