Leeds Property News: CML holds conference on ‘pension tension’ mortgages

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Over a third of new mortgages being taken out will extend beyond the borrower’s 65th birthday, according to the CML.

But less than one per cent of all new lending (including equity release lifetime mortgages) was to this group, illustrating one of the many conundrums that exist in serving the needs of older home-owners in the future.

The conference highlighted a number of recent developments, including the introduction of pension reforms, which could have a significant impact on retirement borrowing.

And it focused on the impact of some much longer term trends – including demographic shifts that are changing the landscape over decades.

The conference also helped crystallise an important distinction between borrowing into retirement, and borrowing by customers in retirement.

To see the full article, search the web with ‘cml’ and ‘pension tension’