Ageism rife in Bermuda’s banks
June 11, 2014
Regarding bank loans to seniors and public suggestions that there might be factors other than age involved in the banks' refusal of house mortgage loan requests.
I can report definite evidence that age is the only factor involved in the refusal.
I am a Bermudian, white man, aged 67 at the time of the loan request, employed with a salary in the upper 10 percent, good long-term employment outlook, in good health, with good retirement savings and excellent loan collateral.
I was rejected at all three Bermuda banks for a mortgage house loan. After pressing the loan officer at HSBC Bank of Bermuda I was specifically told that the rejection was based entirely on my age. However, note that I do not necessarily disagree with the banks' business decision.
IN GOOD HEALTH