Jump to content
House Price Crash Forum
Sign in to follow this  
Fairyland

DT: Pensioner mortgages boom in Britain's broken housing market

Recommended Posts

Apologies if this is already posted. In that case, Mods, please delete/merge.

Telegraph: Pensioner mortgages boom in Britain's broken housing market

Quote

It’s the latest trend in Britain’s dysfunctional housing market: the rise of the mortgaged pensioner.

Higher house prices push back the age at which families buy or move up the ladder, meaning millions of borrowers now have loans that will extend into retirement.

In 2006, a quarter of new mortgages went on beyond the age of 65. Today the figure is almost 40pc. But this number is artificially low, mortgage experts say, because tough new rules introduced after the 2008-09 financial crisis limited lending to older homeowners.

There is now “enormous” pent-up demand for mortgages that stretch into borrowers’ 70s, 80s and even 90s, lenders say – and deals are becoming increasingly available.

 

Share this post


Link to post
Share on other sites

So all the HPI gain made by pensioners goes back into housing for their offspring. Should it be called a gain then?

What is the incentive for younger generation to have a good education, career, mortgage, housing, starting a family?

No wonder minimalism is on rise.

Edited by Fairyland

Share this post


Link to post
Share on other sites
6 minutes ago, interestrateripoff said:

So people finish off paying the mortgage in retirement and then release equity to fund the retirement giving the house back to the financiers.  Genius system.

For the financiers it is.....

Share this post


Link to post
Share on other sites

...mortgages into 70s, 80s and 90s?  Presumably they are retired public sector workers on generous unsustainable state sponsored pensions to pull this off?  Or have absurdly generous final salary pensions in the private sector...all funded by taxes and contributions paid by the younger economically active today.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   26 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.