Couple told they couldn’t buy a house because they’re just ‘too old’

A London couple hoping to move to their dream location in the countryside have been repeatedly denied a mortgage because of their age.

Gary and Elizabeth Das, 71 and 62, were frankly told they were too old to get a mortgage while they struggled to convince several lenders to help them buy a home.

They said while some lenders were simply saying no outright, others were charging massive interest rates or limiting the amount they were willing to lend, effectively forbidding them, reported The Mirror.

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Gary, a retired consultant surgeon, said: “At first I thought getting a mortgage should be straightforward because I’d never had a problem before, but this time I found people were talking a different sort of language to me because I’m not 35, or even 55, anymore.

“The arrangement fees and interest rates were high and the amount they wanted to lend was miserly.

“We couldn’t even have afforded the garage of the place we were trying to buy.”

Elizabeth, a former NHS nursing practitioner, added: “If you pass the age of 50 in this country, it can feel like you’re useless or you’re just stuck in a home and discarded.

“Other lenders would look at our pensions and say, ‘there’s nothing we can do’.

“We were absolutely snookered and the whole thing felt very negative”.

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The couple’s experience reflects the plight of many older people who have been in similar circumstances.

Many mortgage lenders have age caps that range from 55 to 85-years-old, thus restricting the options available to older borrowers.

A great number of lenders do not accept pension cash for paying off mortgages, making it even more difficult for older home buyers to get a mortgage.

Gary and Elizabeth were eventually able to get a mortgage from specialist lender LiveMore.

They were even fortunate enough to find a way to hold onto their current flat and still get a mortgage to buy their dream home in Cornwall.

“I felt elated, euphoric when I realised it was possible,” Gary said.

He added: “We’ve always loved travelling but it’s lovely here, especially summer in Cornwall.

“As I look to the left there are rolling fields and Canadian geese flying past. It’s wonderful.

“Really, we just haven’t had the urge to go anywhere since we moved to be honest.”

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