Financial Times - Long-term mortgages push up the age of borrowers
The Financial Times reports that one-third of mortgages taken out this year will not be repaid until after the borrower turns 65.
The article highlights the increasing term lengths of home loans available often up to 40 years. The data was supplied by Countrywide.
Aaron Strutt, product director at Trinity Financial, told the Financial Times: “If you increase the term by five years, borrowers can sometimes get the mortgage through. We tell clients to make overpayments or, when they come to remortgage, to shorten the term.”
Get started today
Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.
As seen in
