Trumpo learns of scary scenario for over indebted pensioners.

Trumpo has seen a dramatic rise in secured loan advice requests from people over 65, and nobody seems to be talking about it.

What’s crazy is that these potential borrowers are probably very low risk, as their pensions are their for life, as opposed to those employed. But this vulnerable section of the population are basically being black balled from the lowest homeowner rates available. Those now state owned banks that gave granny and grandad all these credit cards and loans are now turning their back on them in their time of need! It’s scandalous.

Trumpo had a meeting with a lender keen to accomodate this sector of the Market, and they are keen to lend, provding the applicants can genuinely afford the payments, very refreshing – however the rates are very high, but at least it’s an option.

We seem to have come full circle at the moment with lenders, security (i.e. the bricks and mortar value of a home) seems to no longer count for much in the eye of the lender, their are many clients at the moment who own properties out right, but for one reason or another the “computer says no” and they are forced to sell the properties to raise much needed capital, something many do not want to do. This says to me that the national lending engine is still not running on all cylinders.

I just hope we dont see mass evictions of retired people over the next 12 – 24 months, looking at the lending market at the moment, this is a strong possibility.

What seems to be happening is that we have a blanket APPLICATION DECLINED approach to all persons who are not in a full time stable job. Trumpo always believed that this country only functioned as result of the millions of small self employed businesses, those who can’t access credit – the country will not get back on it’s feet until the employers and wealth creators can access much needed credit.

So Trumpo is calling on Banks and Finance Houses to focus all lending efforts to those that need it and deserve it; The Self Employed and the Pensioners.

Keep that dunkirk spirit everybody and we will all get through these stormy waters! 

 Your Trumpo.

You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.