Mike Jones

Registered with Property118.com
Sunday 28th July 2013

Latest Comments

Total Number of Property118 Comments: 2

Mike Jones

12:41 PM, 29th July 2013, About 8 years ago

Age discrimination from buy to let mortgage lenders?

Reply to the comment left by "Howard Reuben" at "29/07/2013 - 08:39":

Hi Howard

With respect you and Mark both seem to be still missing the point

First of all I make it clear that I wasn't knocking Shawbrook or Aldermore for that matter

The point is that Age Discrimination is illegal - (I didn't need to check this out the person at the Council of Mortgage Lenders told me so when I called to ask why?) - this Illegal Activity is denying me (and others like me) access to (to coin your term) 'Whole of Market' and the industry generally seems quite content to go along with it.


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Mike Jones

9:43 AM, 28th July 2013, About 8 years ago

Age discrimination from buy to let mortgage lenders?

Thanks for that Mark

I re-mortgaged in May this year

I didn’t see Neil Patterson’s piece but it makes no difference because it was published a year ago at around the same time that I began looking around – At that time I identified all the names put forward by Neil (and in fact a few others) – but if you care to re-check I think you will find that unless there has been recent changes of heart Woolich, Ipswich, and Monmouthshire all changed their criteria shortly afterwards – TMW wouldn’t do a purpose built block of three flats on one freehold and Aldermore is in the same category as my new lender Shawbrook (commercial / unregulated and expensive).

The purpose of writing was not to seek help for my individual needs (I’m already set up with this one now) but to raise the issue of ageism particularly in respect of those lenders who are breaking the law and discriminating in this way – they are the bogymen; and Neil Patterson’s reasoning is bang on target – there is no more risk (probably much less) in take on a experienced 70 plus BTL lender with a quality property than a new inexperienced entrant (of which judging by your forums there are many), or indeed the low quality properties to which many Landlords are much more attracted for the potential higher returns (as witnessed on TV just recently).... Read More