Who’s looking forward to using their pension to pay off their mortgage?
50 years? So assuming you get a mortgage at 18 years old, then you finish paying it off when you retire at 68. That assumption is also unrealistic as is.
Not so much a mortgage as a secure long term rental arrangement you can leave in your will, like tenant farmers in the olden days, wonder if forelock tugging at the bank manager goes with it.
This is like an equity release before you’ve even bought the place.
this is a disgrace
congratulations, your mortgage is now the service live of the building. have fun on the resale.
4.5% lock for 50 years is… rather lucrative tbqh.
Depending on the ERC of course.
50 years? Sheesh
So, with interest rates at already a pretty high rate, they want to offer a 50-year fixed rate, to keep paying the already inflated interest rate, when the housing market crashes in a few years and we’ll be able to basically get free mortgages again.
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Who’s looking forward to using their pension to pay off their mortgage?
50 years? So assuming you get a mortgage at 18 years old, then you finish paying it off when you retire at 68. That assumption is also unrealistic as is.
Not so much a mortgage as a secure long term rental arrangement you can leave in your will, like tenant farmers in the olden days, wonder if forelock tugging at the bank manager goes with it.
This is like an equity release before you’ve even bought the place.
this is a disgrace
congratulations, your mortgage is now the service live of the building. have fun on the resale.
4.5% lock for 50 years is… rather lucrative tbqh.
Depending on the ERC of course.
50 years? Sheesh
So, with interest rates at already a pretty high rate, they want to offer a 50-year fixed rate, to keep paying the already inflated interest rate, when the housing market crashes in a few years and we’ll be able to basically get free mortgages again.