Running past retirement
Is your mortgage due to run past your retirement age? Was this pointed out to you?
Did your broker or lender discuss how you would meet your repayments once you were retired?
A good example of this would be if someone takes a mortgage out for 20 years at the age of 50.
The average age of retirement is at 65, which means there will be 5 years left to pay.
If at the time of agreement, the adviser didn’t take into consideration whether the customer could afford to make the payments after the age of 65, then the customer may have been mis-sold.