Centagenarian secures 25-year mortgage

[mawilson 2,133]

A 102-year-old UK man has secured a £200,000 interest-only mortgage which will cost him

£958 a month until he makes the final payment at 127, Ananova reports.

The East Sussex old timer, who intends to use the cash to move into the buy-to-let market,

is the oldest person in Britain to be granted a new mortgage. Jonathan Moore, of Mortgages

for Business, who arranged the loan for the centagenarian wannabe landlord, explained:

"It's a new phenomenon. Five years ago, anybody over 65 would have been hard-pushed

to get any mortgage. But lenders have eased restrictions to keep in step with the market."

Which by our reckoning translates as: "They'll lend money to anyone if they see a profit in it."

[almaty 19]

#######? i guess they are hard up for buyers over there

[Otto 83]

I applaud the old guy - good for him.

That's one of the values (albeit an extreme example) of anti-discrimination/fair-credit acts (here in US) - if he's qualified and the property meets the lenders requirements, he should get the loan like anyone else.

"I just bought a house, and I'd like to buy some furniture..and sign up for that.."No Payments Until 2030" program...."

[mawilson 2,133]

Karin -- I love your little animated icons

[w¡n9Nµ7 §£@¥€r 123]

Hey, if the man is willing to borrow the money and a bank is willing to lend it, I don't care.

As long as they don't end up going to the UK taxpayer later for a bail out.

[mawilson 2,133]

Hey, if the man is willing to borrow the money and a bank is willing to lend it, I don't care.

As long as they don't end up going to the UK taxpayer later for a bail out.

As if you care if they do end up going to the UK taxpayer later

[w¡n9Nµ7 §£@¥€r 123]

Hey, if the man is willing to borrow the money and a bank is willing to lend it, I don't care.

As long as they don't end up going to the UK taxpayer later for a bail out.

As if you care if they do end up going to the UK taxpayer later

doh! wrong country.

serves them right for being british.