unfair or discrimination??

mariecc_2

I am in a postion to buy a solid good property under market price with only a new kitchen and bathroom needed. But looking on here maybe someone can explain why I cannot have a buy to let mortgage?..

I worked out what I can put down 137 against the price of 222k.. that is how positive I am

So my question to Martin or any else is why do I not have the same rights as anyone else because of age ?..
and why if I am only actually looking for a loan (buy to let) for a sound investment can I not have it just because I don't have an income of 25k?.....

I am investing the greater part

But Martin can you not fight the cause of people who do not work but have money get the same as others?......
and the blatant age discrimination........
as soon as I answer the first question the door is shut!!!!! But they want my money in their banks

amnblog

I hate to ask a lady but what age are you Marie?

andyfromotley

AMN!!! How dare you, thats ageist!!!

ACG

Its not discrimination where they say EVERYONE can only have a mortgage until they are 70 years old or EVERYONE must earn £25k. It is discrimination where they say except gingers who can only have it up until 65 and must earn £50k (My gf is ginger so im allowed to take the mick out of gingers) - So I dont think you could argue they are discriminating.

Unfair is entirely different and I think that is more subjective.

Ultimately their money = their rules.

However there are many many lenders and where one or more will not lend to you for whatever reason, it does not mean they all wont.

If your struggling, speak to a broker. That is why we are in a job.

dunstonh

So my question to Martin or any else is why do I not have the same rights as anyone else because of age ?..

Why cant under 50s access SAGA products?
Why cant you access a pension under age 55?
Why can you only drive at 17+?

The reason is that its a "global" restriction. Not personal to you. It applies to everyone.

nd why if I am only actually looking for a loan (buy to let) for a sound investment can I not have it just because I don't have an income of 25k?.....

If your income cannot support the repayments then it is logical that you should not be lent the money.

But Martin can you not fight the cause of people who do not work but have money get the same as others?......

Earned income is not the only measure. However, for some lenders it may be their criteria but they are free to set their own lending criteria.

mariecc_2

Thanks everyone

Mortgage_Mark_2

Equity in the property won't pay the mortgage if you're without tenants for a few months...

Thrugelmir

mariecc wrote: »

So my question to Martin or any else is why do I not have the same rights as anyone else because of age ?..

There's no right to a mortgage. Meeting the criteria for one is a totally different matter.