Dutch financial sector regulator AFM is not going to investigate whether seniors are correctly refused a mortgage loan, caretaker home affairs minister Ronald Plasterk has told parliament.

Plasterk was replying to MPs questions about the obstacles older people face in obtaining a mortgage.

Seniors who move house or undertake major work on their existing home are often refused a new mortgage because their income is inadequate, even though their monthly outgoings may be lower or the mortgage is only a small proportion of the value of the property.

‘There is no requirement on loan providers to extend a mortgage or to make use of the exceptions in the current rules for mortgages,’ Plasterk said.

In addition, some mortgage providers have standardised their procedures, making it more difficult to offer tailor-made solutions for people who do not meet the standard requirements, the minister said.