A Clare financial adviser believes a new mortgage deal for people paying until the age of 80 is unrealistic and will rarely get approved.
A new lender MoCo, which is owned by Austrian bank Bawag, is prepared to issue mortgages that people can pay off until their 80th birthday.
The majority of other lenders have credit policies that mean they want the mortgage paid off by the time the homeowner reaches the age of 70.
Tommy Corbett from Carey Corbett Financial Solutions says, however, new competition in the money lending market is vital.
CONTINUE READING BELOW
You can listen to the full interview below.
