The Times - Say hello to the 30-year fixed mortgage - January 2014

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Lenders may need to be more flexible in their approach to longer term loans as the Bank of England considers the return of the 30-year fixed-rate mortgage in an attempt to combat mounting house prices, and as the 25-year mortgage stops being the traditional route for first-time buyers. Concern has mounted for prospective home-buyers, as house prices rise (the average price paid by first-time buyers rose by 6.4 per cent in the year to November, according to the Office for National Statistics) and many turn to mortgages that could take up to 40 years to pay off in order to afford monthly payments. The broker Trinity Financial says it has seen 50 per cent more first-time buyer mortgage terms over 25 years in the past two years. Click here to view the full story on The Times website £ We are not responsible for the accuracy of the information contained within the linked sites accessible from this page. January 17, 2014
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