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it is very possible for a pensioner to take loan for a mortgage because he's still like a worker because he's receiving salary which is his pension every month with the issue can be able to pay for his mortgage.That's weird of mortgages to favour one professional to another. They shouldn't just be play politics on that. They should give out loans based on what the individual requesting the loan can afford to cover the cost of the loan. As long as their is collateral for it, i believe they should grant them loans.
Hmm, but do you know that here in Nigeria, if you're above 65, it is very hard to get a pension from the mortgage. My father and his retired friend went to the mortgage to take some loan to solve immediate needs, but the mortgage personnel said they aren't eligible for loan at this time. Saying the money they demanded can't be given to them cos they're retired. Not that they can't afford to pay it back via their monthly stipend but because their age is no longer good for loan.it is very possible for a pensioner to take loan for a mortgage because he's still like a worker because he's receiving salary which is his pension every month with the issue can be able to pay for his mortgage.
Yes you can take loan for mortgage as a pensioner have because you also receive money or wages every month and we did you can be able to pay for your mortgage installmentally.Hmm, but do you know that here in Nigeria, if you're above 65, it is very hard to get a pension from the mortgage. My father and his retired friend went to the mortgage to take some loan to solve immediate needs, but the mortgage personnel said they aren't eligible for loan at this time. Saying the money they demanded can't be given to them cos they're retired. Not that they can't afford to pay it back via their monthly stipend but because their age is no longer good for loan.
Here in my country, they didn't borrow my dad and his friend money cos of reason they stated as being effective enough to repay the loan due to being retired.Yes you can take loan for mortgage as a pensioner have because you also receive money or wages every month and we did you can be able to pay for your mortgage installmentally.
Yeah I think that's usually the challenge they would be facing when trying to take out one because what banks are concerned about is the ability to repayIt depends on the financial institutions. Some financial institutions would think that retirees might have a difficult time paying back the mortgage or servicing the loan.
True that. If they can successfully convince the bank that they can repay the loan, then that would be great. Often times it isn't the case.Yeah I think that's usually the challenge they would be facing when trying to take out one because what banks are concerned about is the ability to repay
Yeah, banks are usually struct and brutal when it comes to giving out loans because they would have been instances of people that failed to pay back so they would have to be extra aggressiveTrue that. If they can successfully convince the bank that they can repay the loan, then that would be great. Often times it isn't the case.
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