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Locked out borrowers getting 'really angry'

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Australian Broker | 31 Aug 2011, 07:00 AM Agree 0
Older borrowers are becoming incensed by changes to the reverse mortgage market in tandem with the NCCP, it has been claimed
  • Rod Palmer | 31 Aug 2011, 11:56 AM Agree 0
    Even in Russia you don't have government controlling your investment and lifestyle decisions. It has nothing to do with the Government how people to invest or live their life.
  • Ozboy | 31 Aug 2011, 12:39 PM Agree 0
    True Rob until it all goes bad then nobody wants to take ownership of the situation. Look at Storm Financial, all good while the money rolled in for years and years but when it turned bad all of sudden no one stood up. This is what you get when people don't take accountability. That's Life!
  • gmashe | 31 Aug 2011, 12:46 PM Agree 0
    This is about something much more powerful than mere Government - it's the lenders that have done this. It's a typically conservative overreaction to the legislation.
  • countrybroker | 01 Sep 2011, 08:28 AM Agree 0
    The points put across in this article are factual. The market is very hard for retirees and people over 55 BUT not impossible , reverse mortgages are still being written ( I have just serttled one)BUT it is a market that has constraints and rightly so, why, when you are dealing with older clients they can be vunerable nad need to be treated with a great deal of of caution and respect. In regards to the working over 55 years clents it is a matter of putting a "clear case" to the lender, they are looking for brokers to do their job and "know their clients", that is what this is all about, don't complain, comply, and do the work that should have always been done.Dewals can be written that deserve to be written, yes some lenders are being cautious, avoid them and deal with the common send approach lenders.
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