How single and older people are disadvantaged on the property market – Cian Carolan discusses with Pat Kenny on Newstalk

How single and older people are disadvantaged on the property market – Cian Carolan discusses with Pat Kenny on Newstalk

Single and older people are disadvantaged on the property market, which can make their situation more difficult than first-time buyers.

Finance One’s Cian Carolan participated in a segment on the Pat Kenny show on Newstalk this morning.

The piece highlights the difficulties faced by older and single people in qualifying for a mortgage in an urban area.

Gerry O’Neill talks about his situation and the difficulties he and many others face. Gerry had a home and a retail business until the crash of 2009 changed both of those things. However, when he began saving for a mortgage with his new partner he found that he was at a massive disadvantage due to the requirement to have a deposit of 20% instead of the first-time buyer 10%.

Added to that was the fact that, at 54 years of age, no lender would give him a 30 year mortgage, so he would face higher repayments due to the shorter repayment term.

Have a listen as Pat discusses this situation with Cian.

You can listen on the Spotify link below, or ¬†click into the Newstalk ‘listen back ‘ page here.

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