Over-55s’ affordability squeeze ‘worse than for self-employed’
By
Leah Milner
20
th May 2021
4:34 pm
The proportion of over-55s who were unable to secure a mortgage of the size they required was higher than the share of self-employed borrowers who were not able to do so, the latest affordability index from Mortgage Broker Tools suggests.
It found that, in April, there was at least one lender able to provide the loan size requested by 75% of applicants across the market as a whole, 70% of self-employed customers and 64% of customers aged 55 and over.
Nearly 9% of applicants aged 55-plus were unable to secure a suitable mortgage of any size, compared to 2% of the self-employed.