The study found that many lenders have imposed lower maximum age limits because of uncertainty over stricter regulations.
Research by a trade body representing lenders found that people aged over 40 seeking a standard 25-year mortgage are finding their options restricted because they will be borrowing beyond a normal retirement age of 65.
The new Mortgage Market Review (MMR) rules, which came into force in April, mean that lenders have to spend more time considering whether homebuyers can afford the mortgages they are applying for.
A report by the Intermediary Mortgage Lenders Association (IMLA) stated that the scope for interpretation of the MMR has convinced many banks that lending into retirement now carries extra risk if borrowers go on to find that their retirement income is less than expected.
Read the full story in the Irish Times
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