We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Age discrimination

Tom2023
Tom2023 Posts: 151 Forumite
Part of the Furniture 100 Posts Combo Breaker
in Mortgages & endowments
I have just been told by Santander that they won't give me a mortgage term past my 67th birthday.

Is that legal?

Comments

  • TrickyDicky101
    TrickyDicky101 Posts: 3,534 Forumite
    Part of the Furniture 1,000 Posts
    In a word, yes. They cant be forced to offer you a mortgage I'm afraid.
  • Tom2023
    Tom2023 Posts: 151 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    They have offered me a mortgage but they say the term can't be past my 67th birthday.
  • TrickyDicky101
    TrickyDicky101 Posts: 3,534 Forumite
    Part of the Furniture 1,000 Posts
    Then, 'They cant be forced to offer you a mortgage past your 67th birthday, I'm afraid' :)
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Lenders are in business so can set their own terms.
  • Let_Us_See
    Let_Us_See Posts: 1,319 Forumite
    Tom2023 wrote: »
    They have offered me a mortgage but they say the term can't be past my 67th birthday.

    Other lenders might but it will depend on your ability to prove you can maintain mortgage payment beyond your (anticipated?) retirement of 67th birthday.
  • dunstonh
    dunstonh Posts: 120,323 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Tom2023 wrote: »
    I have just been told by Santander that they won't give me a mortgage term past my 67th birthday.

    Is that legal?

    Why do you think it wouldnt be legal?

    They are basing it on your income. Unless you have income post retirement to meet lending criteria then they dont have to lend to you. Indeed, it could be considered a potential mis-sale if they did lend to you post retirement and you didnt have the income.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Wh05apk
    Wh05apk Posts: 2,938 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Santander will potentially go to age 75, I suspect you have stated your retirement age as 67? in which case they will not go beyond that date.
    I am a mortgage adviser.
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.3K Banking & Borrowing
  • 253.7K Reduce Debt & Boost Income
  • 454.4K Spending & Discounts
  • 245.3K Work, Benefits & Business
  • 601.1K Mortgages, Homes & Bills
  • 177.6K Life & Family
  • 259.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture