Asked by Anonymous
Hi Gurus,
I have a friend who signed up for a BUC property loan with a local bank some years ago for a total term till he is 80 years old (which was being allowed at that time he signed up). Since he is still paying reasonably higher interest rates - he is looking to refinance. However he is concerned about his eligibility for refinancing or even repricing , as he just retired - so no income to show ! What are his options under these circumstances ?
I have a friend who signed up for a BUC property loan with a local bank some years ago for a total term till he is 80 years old (which was being allowed at that time he signed up). Since he is still paying reasonably higher interest rates - he is looking to refinance. However he is concerned about his eligibility for refinancing or even repricing , as he just retired - so no income to show ! What are his options under these circumstances ?
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