Mad mortgage application process!

Simon_gloster

My first paragraph was a question open to everyone.

You seem to be missing the point, lenders do lend to people to aged 100 or more, I have seen it in the past, but again criteria policy will dictate who does and who doesn't based in terms and conditions.

By the time this legal thing your going on about comes in I'll be collecting my pension......it's no good for folk who want this changed today.

Lenders are lenders not just a charitable organisation, money needs to he made. It's no different now in principle to the 1800's.

Building_Surveyor

Test your theory out, what have you got to lose after all?

Set up your own lending facility...in fact why don't you give 30year terms to people in their 70s... They might still be working, might not even want to retire.. then post back on here and let us know whether you made any money.... Then all the banks will say how wrong we were and you can say I told you so, happy days!

Job done.

TurnUpForTheBooks_2

Building_Surveyor wrote: »

Test your theory out, what have you got to lose after all?

Set up your own lending facility...in fact why don't you give 30year terms to people in their 70s... They might still be working, might not even want to retire.. then post back on here and let us know whether you made any money.... Then all the banks will say how wrong we were and you can say I told you so, happy days!

Job done.

Now you are being totally facetious. This is actually a serious subject and if you reach a position of responsibility in which it is your job to assess what is lawful and unlawful about your business and you fail to heed the recent change in the law on behalf of an employer now or in the future, it may well be you who will be wondering why your job is done.

If you don't have a clue where to start with a justification for what you have said, then please say so and maybe someone else can occupy your space in the thread.

And for Simon, did you not notice that gender discrimination has successfully been outlawed in motor insurance. You didn't have to wait for your pension to see that, now, did you? It is a short step from there to outlawing ill thought out risk profiling on the basis of age, even with the so-called "objective justification" defense.

Simon_gloster

What happened to the premiums?

TurnUpForTheBooks_2

Simon_gloster wrote: »

What happened to the premiums?

Well I have the cheapest motor premiums I have had in 8 years with the same 2 vehicles continuously insured (albeit I shop around each renewal with special knowledge about what I am buying). I have little doubt many people of both genders are still paying through the nose, and youngsters are essentially priced out of the market for no good eason. I know my son is a safer driver than me but the insurance premiums to add him to my car for occasional use are stupidly high and reflect only the fact that motor insurance underwriters are not interested in Knowing Their Customer just maintaining turnover by quick and easy cartel-shaped routes to profiting from suckers (a bit like the fraudulent motor insurance customers who stage accidents and take all of us for suckers too).

Simon_gloster

I'll stop now thanks. Lending into/with retirement will not go away.