Pensioners Struggle to Stay on the Property Ladder

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Most of the focus of problems on the property ladder is on those at the bottom trying to get on rather than those older borrowers who are already on and want to stay on. A study by Jacquie Wells & Associates says that pensioners who need to remortgage are not getting the same help or choice of loans as those still working, and that the industry and government could do more for those who do not want to go down the equity release route. “More than anything, the different attitudes to borrowing in later life that exist among consumers and industry need to converge,” says the report. “Recognising that borrowing in later life is about supporting retirement finances rather than acquiring a home will do much to bring about that alignment”.

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