102 Year Old Is Given A Mortgage!
A 102 year old U.K. man has been approved to receive a 25-year mortgage according to a report posted on the 24dash.com web site. The unnamed man took out a 25-year 200,000 pound mortgage that will be paid off when he is 127, that is if he lives that long.
Most mortgage companies in the U.K. have an age limit of 75 when it comes to issuing mortgages, but Mortgages for Business, a Kent firm has no such limit.
The pensioner has taken out the mortgage with his family for personal investment purposes. He is hoping to make money off of the rental payments paid by his tenant.
Posted: June 19th, 2007 under Mortgages.
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