Alan Lakey, a financial adviser at Highclere Financial Services, said two of his clients, a husband and wife aged 52 and 46 respectively, applied to Nationwide for a £111,000 loan over 15 years on a £250,000 property. He claimed the clients met all the income and affordability requirements but were denied a loan because the husband would be 67 at the end of the term and was not paying into a pension. This was despite the fact that he planned to retire at age 70.