rollover Posted November 13, 2015 Share Posted November 13, 2015 The home loans that will last into your 80sMaximum age limits on paying off mortgages could be stretched meaning homeowners could take out home loans that last into their 80s, lenders proposed yesterday. Most banks and building societies currently demand mortgages are paid off by age 70 or 75, meaning many middle-aged would-be borrowers are turned down or forced into shorter-term deals. Quote Link to comment Share on other sites More sharing options...
Motor_Blade Posted November 13, 2015 Share Posted November 13, 2015 Providing a necessary service or just self interest from the lenders? Quote Link to comment Share on other sites More sharing options...
R K Posted November 13, 2015 Share Posted November 13, 2015 Why isnt their an age limit on rents? Why should an 80 yr old still be paying rent to his/her landlord? Quote Link to comment Share on other sites More sharing options...
winkie Posted November 13, 2015 Share Posted November 13, 2015 Why isnt their an age limit on rents? Why should an 80 yr old still be paying rent to his/her landlord? Rent/mortgage......only a matter of time, all the same. Quote Link to comment Share on other sites More sharing options...
Democorruptcy Posted November 13, 2015 Share Posted November 13, 2015 Longer mortgage terms mean more interest to pay. Bankers don't want debt slaves to be able to retire when they could be working for them. The future is service debt until you die. Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted November 13, 2015 Share Posted November 13, 2015 Quote Link to comment Share on other sites More sharing options...
onlyme2 Posted November 14, 2015 Share Posted November 14, 2015 Longer mortgage terms mean more interest to pay. Bankers don't want debt slaves to be able to retire when they could be working for them. The future is service debt until you die. This is correct. They need to stretch the affordability limits by whatever metric they can. Age, multiples, no. earners., govt slush funded pseudo deposits etc etc, This they think will keep their ponzi scheme and income flowing into their pockets. Quote Link to comment Share on other sites More sharing options...
rollover Posted November 14, 2015 Author Share Posted November 14, 2015 This is correct. They need to stretch the affordability limits by whatever metric they can. Age, multiples, no. earners., govt slush funded pseudo deposits etc etc, This they think will keep their ponzi scheme and income flowing into their pockets. Is this the Japanese model in retrospective? Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted November 14, 2015 Share Posted November 14, 2015 They should just ban people from paying off debt. That should solve our economic problems! Quote Link to comment Share on other sites More sharing options...
Eddie_George Posted November 14, 2015 Share Posted November 14, 2015 They should just ban people from paying off debt. That should solve our economic problems! It's called "Interest Only". Quote Link to comment Share on other sites More sharing options...
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