In this episode, we discuss several conversations Ed has recently had with his cab drivers about property investment nz, specifically about age. This is important because a bank may not be willing to lend money to someone nearing retirement because if that person was to stop working then they may not be able to afford their mortgages.
For instance, say that a person was 65 and borrowed $500,000 to purchase an investment property on a 30 year term. That person would be 95 by the time the loan was repaid, which is why the banks are typically more hesitant to loan to older borrowers.
