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For instance, if a 55-year-old approaches a lender with an age restriction of 75, he or she will only be offered a 20-year term. This means annual repayments will be higher than on a 25-year term – although the debt will clear more quickly, cutting the overall cost.
For instance, if a 55-year-old approaches a lender with an age restriction of 75, he or she will only be offered a 20-year term. This means annual repayments will be higher than on a 25-year term – although the debt will clear more quickly, cutting the overall cost.