Mortgages  

Research shows over-50s feel excluded from mortgages

A lack of understanding of the over-50s market means many high street lenders offer mortgage products with lending criteria unfit for mature borrowers, he claimed.

He said the financial services industry has overlooked a demographic with mortgage potential and the solution to this was greater flexibility in lenders' criteria. 

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Affordability criteria that goes beyond a standardised approach has the potential to profit from a previously excluded market.

The current barrier to financial products comes as the cost-of-living crisis makes it imperative that older people have access to financial tools.

sophia.massam@ft.com