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Mortgage Mole: Age appropriate

Mole-new

Age appropriate
Many people get a bit tetchy when it comes to their age but Mole did not think that applied to banking giants. Last week, a building society published research on the maximum ages to which high-street banks will lend, highlighting that many are failing older borrowers.

The society conducted a mystery shop, finding that many banks required borrowers to have paid off their loan in full by the time they were 75, with one age limit as low as 70.

Once the research was published, a representative of the bank that required borrowers to pay up by the age of 70 called the society’s chief executive in anger, demanding proof, and then slammed down the phone.

To spare the blushes of the individuals, Mole has refrained from disclosing their names. But he has learned a lesson: never bring up the subject of age with ANYONE.

Christmas list
In other news, Mole was doing a spot of Black Friday shopping and came across this housing-crisis themed hoody from Londonist.com with a pointed message for the Chancellor.

Mole-pic

It could be the perfect Christmas gift for armchair economists and housing policy strategists everywhere.

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