Old age mortgage limit to be lifted

missbiggles1

Graham_Devon wrote: »

Really?

Who'd have thunk it

Then why be so anti the whole concept?

missbiggles1

Carl31 wrote: »

surely one of the main points of buying is the theory that you wont be paying for housing when you're no longer working

The other being its something to pass onto the children

So now, potentially, you could still be paying when youre no longer working, and the thing you could pass onto your children is a debt

Are we actually aiming to create a nation of renters?

Unless the property's in negative equity you wouldn't be dying in debt and your children wouldn't inherit it even if you were.

Thrugelmir

padington wrote: »

Could see this having quit a serious affect on the market.

Thoughts ?

Only helps those that can afford to do so. Current levels of debt suggest many aren't in a position to do so.

padington

It will help a lot of older people change their mortgage which I Imagine would include a tad of remortgaging to unlock funds to help the kids.

princeofpounds

Makes sense. As long as the equity stake in the property is sufficient that liquidating the property is a low-risk way to pay off the mortgage. Like anything else, it's a risk that can be priced, and a ban was always a bit silly.