On more seniors servicing private mortgages, SMU Celia Moh Professor and Professor of Economics Phang Sock Yong said: "[The increase] is a cause for concern only if loan holders aged 65 and above face a higher risk of difficulty in servicing their mortgage payment [during] retirement and are 'underwater' on their mortgages". She highlighted that some retirees might have taken out mortgage loans for investment properties, which yield rental income. “With the tighter age-related mortgage rules, it will be harder to retire with a mortgage debt", she added.