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No loan advice for over-60s: Banks refusing to meet customers
No loan advice for over-60s: Banks refusing to meet customers
This is a duplicate of the Blog Entry made on: 8th February 2017 20:18
This is a duplicate of the Blog Entry made on: 8th February 2017 20:18
....to discuss mortgages if they are 'too old'
Banks are refusing to meet customers to discuss mortgages if they are 'too old'. A report by the Financial Ombudsman Service says some banks are automatically refusing home loans to customers in their 60s and 70s, even if they have the means to pay. Some advisers won't even meet customers near their lending age limits. In one case, a man was denied a meeting with a mortgage adviser because he was near his 70th birthday. When the ombudsman investigated, it emerged the bank would lend to customers over 70 if they could prove they could afford the mortgage. The bank was ordered to rearrange the meeting with the man. The ombudsman says two-thirds of complaints about age discrimination in the past two years have involved mortgages.....Source
Banks are refusing to meet customers to discuss mortgages if they are 'too old'. A report by the Financial Ombudsman Service says some banks are automatically refusing home loans to customers in their 60s and 70s, even if they have the means to pay. Some advisers won't even meet customers near their lending age limits. In one case, a man was denied a meeting with a mortgage adviser because he was near his 70th birthday. When the ombudsman investigated, it emerged the bank would lend to customers over 70 if they could prove they could afford the mortgage. The bank was ordered to rearrange the meeting with the man. The ombudsman says two-thirds of complaints about age discrimination in the past two years have involved mortgages.....Source