Halifax has announced a new policy imposing a 70-year age limit on thousands of mortgage borrowers. This decision has sparked a debate, with GB News Economics and Business Editor, @LiamHalligan, highlighting the challenges it poses for older individuals seeking to secure mortgages, particularly those over 50 aiming for a 25-year mortgage term. The move is seen as exacerbating the difficulties faced by many in accessing affordable housing, amidst a broader context where buying a house is becoming increasingly hard and mortgage rates are high with few options for reduction. Critics like Vicky Spratt and Melanie McDonagh argue that this policy could further squeeze the housing market, especially affecting younger homebuyers struggling to get on the property ladder.
Home buyers have few options for cutting their mortgage rate right now https://t.co/oDvnTqYV5L
Buying a house is harder than it’s ever been — and meaningfully lower mortgage rates seem forever in the future. https://t.co/FR7GiKjHr9 https://t.co/y3BbkvtpIA
🖋️ "It is becoming more difficult for those 50 and over to get a 25-year mortgage. That is bad news for everyone" | Writes Melanie McDonagh Read the full comment below ⬇️ https://t.co/1pIjMJDG1B
Opinion | Right now, trying to buy a house or get a new fixed-rate deal when remortgaging is a bit like being on a rollercoaster that you can’t get off, writes Vicky Spratt 🔗 https://t.co/uF0tMQLrmT https://t.co/1TTW4mYhP4
Home buyers have few options for cutting their mortgage rate right now https://t.co/0a6Nlgu5I8 https://t.co/0a6Nlgu5I8
‘When you have so many youngsters struggling to get on the housing ladder, an age limit on a mortgage really does put the squeeze on.’ GB News Economics and Business Editor, @LiamHalligan, responds to Halifax imposing a 70-year-age limit on thousands of homebuyers. https://t.co/2ibYxSnr2x
BREAKING Halifax announces new age limit on thousands of mortgage borrowers https://t.co/Z8toNwrnZT
Halifax to impose 70-year age limit on thousands of older mortgage borrowers https://t.co/tPxr1SSMsf