The world of mortgage products is forever expanding, as financial providers adapt their lending models to fit modern lifestyles. One group for whom the future’s looking particularly bright is older borrowers. Many lenders are increasing their maximum ages to reflect changes in life expectancy and financial stability, and in fact one lender recently revealed that they would be offering mortgage products to borrowers up to the age of 85.
One of the most unusual trends in the housing market recently is the sharp rise in the number of pensioners with substantial mortgages. Some are doubtless experiencing a cash crunch, but others may have found a novel way of avoiding inheritance tax.