PROPERTY MATERE-AGE HOME LOANS
ANSWERS BY KELLIE COWIE, By Design Financial.
1 What's the difference between applying for a mortgage in your 30s compared with your 50s?
As a person matures, lenders shift their focus and begin to have a heightened awareness that the applicant is approaching retirement age which, from the lender's perspective, impacts a customer's ability to earn an income and therefore repay a home loan.
Unfortunately, this means that not all lenders have an appetite for mature-age clients. This makes finding the right lender imperative. Finding
