UK Mortgages - 40/50 year mortgage

After much searching a 40/50 year mortgage seems almost impossible to find, no bank, building society or lender will invest money in a 40/50 year mortgage "not surprising".

Although at the rate house prices are rising it is only time before mortgages will be increased to 30, 40 or even 50 year terms.

All is not lost however! according to news.bbc.co.uk........

50-year mortgages 'on the way'

Mortgages in the UK might have to double in length to 50 years if repayments are to remain within the reach of normal home buyers, a leading mortgage broker has warned.

Days after the Halifax bank reported a 4.2% rise in house prices in a single month - making an annual rise of nearly 20% - Charcol said that the current 25-year mortgage is rapidly becoming impossible to repay.

As a result, the only way mortgages will remain affordable is by increasing the term to 30, 40 or even 50 years.

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