Fairyland Posted March 19, 2017 Share Posted March 19, 2017 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. Quote Link to comment Share on other sites More sharing options...
Parkwell Posted March 19, 2017 Share Posted March 19, 2017 Yeah, coz renting is dead money. Imma buy a mortgage until I'm 85. Quote Link to comment Share on other sites More sharing options...
Fairyland Posted March 19, 2017 Author Share Posted March 19, 2017 (edited) 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 March 19, 2017 by Fairyland Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted March 19, 2017 Share Posted March 19, 2017 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. Quote Link to comment Share on other sites More sharing options...
Motor_Blade Posted March 19, 2017 Share Posted March 19, 2017 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..... Quote Link to comment Share on other sites More sharing options...
Wayward Posted March 21, 2017 Share Posted March 21, 2017 ...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. Quote Link to comment Share on other sites More sharing options...
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