You're right. One should only take loan when he or she knows the repayment term won't exceed deadline. Pensioners should take a loan which they can afford to pay back. Already the mortgage access the amount that can be issued out to any civil servants or retirees based on their salary level.
Exactly, to give you an idea, I have a aunt who is 69 years old, she has properties and cars that exceed the amount she applied for through the bank which they rejected, just because of her age. She had to talk to a family member who did it for her and with only one property she was approved for the loan. My aunt, who was putting up several properties, was denied, it is absurd.
That's very crazy, the mortgage isn't doing well when it comes to issuing out loan to people. At 69, one is still strong and fit, if the body is well taken care of. Oh, they thought as the age gets going, the person is nearing grave? That's big lie, no one is above death. They should change the way they operate and extend the loan offer to everyone irrespective of age.
I totally agree with you @Sincerem , the financial policies in the countries should be changed, since older people because of their experience and maturity, many times are more responsible than many young people. The benefit and requirements should be for everyone equally without preferences or limitations, of course, as long as they meet their requirements.
You spoke wisely @Sariana23. The elderlies should be given a chance when it comes to mortgages disbursing of loan, as long as they meet the terms and conditions. And not restricting them base on age, they should know, the elderlies are reasonable than the youths at times. They know where to invest the money and make profit or invest to make the loan repayment.
So, as I described above, I hope that everything will change for the benefit of all citizens in terms of mortgage loan restictions. Since we all have equal rights whether we are pensioners or active workers. These restrictions minimize the interest of the people related to the financial entity.
No, this should not happen, banks should also confirm the pensioner so that he can start a business Because they do not need any guarantee, because they are government employees even before then they should be taxed without any condition So that the pensioner can do any shame or start his business with that tax. So that even after retirement, they can live a comfort life
It will be nice the mortgage institutions change such ideology and try to suit every citizens in the country. This kind of decisions made lots of people to avoid any firm of loan, or borrowing from them.
Excellent, and I am very glad that you had no inconvenience to get the mortgage, and the best thing is that it is already paid off and you have your property without debts. These are the opportunities that should be given to anyone who meets the application requirements.
Okay, its good you aren't owing any debt at the moment. Not base on your age, but to set your mind free. When it comes to age, it isn't a barrier when taking loans. Anyone can take loan at any age, as long as they meet the criteria for it. I'm just too worried about, why the mortgages at my locality won't give loans to aging people.
I guess each country is different. I had to fill out a lot of details at the time about job and repayments. I just checked and the over 65s can get a mortgage here depending on their income and ability to pay back the loan.
I went through the link, it shows that, no age limit set for mortgages. Pensioners have their own loan, they can be given loans when they meet the criteria for it. As long as they have reasons for it, and have what it takes to pay back. Their is nothing stopping the mortgages from lending them loans.I guess each country is different. I had to fill out a lot of details at the time about job and repayments. I just checked and the over 65s can get a mortgage here depending on their income and ability to pay back the loan.
Mortgages for pensioners: I'm over 65, can I get a mortgage? | unbiased.co.uk
Find out what mortgages are available for pensioners and how you can improve your chances of getting a mortgage over 65.www.unbiased.co.uk
It's so unfortunate that banks treats Pensioneer like a piece of trash , my father is also a pensioners and I understand your plight, but that's the normal protocol for banks , If you don't have any work you are doing presently, they wont give you loan, my father is into farming and he was able to get a loan because they believe he will be able to afford to pay back.
That's weird of mortgages to favour one professional to another. They shouldn't just be play politics on that. They should give out loans based on what the individual requesting the loan can afford to cover the cost of the loan. As long as their is collateral for it, i believe they should grant them loans.
