The traditional 25-year mortgage could be on the way out,
with growing numbers of first-time buyers opting for deals lasting 30 or 35
years – suggesting that many will still be burdened with home loan debt in
their 60s and 70s. The Halifax said that in 2016, about 28% of all first-time
buyers with a mortgage opted for a 30- to 35-year term – up sharply from 11% in
2006. With high house prices, student debts and a rise in the age at which
couples have children, many people are tending to buy a home later and opt for
a longer repayment term. Read more on the Guardian website.
Thursday briefing: How Michael Gove’s ‘new deal’ for renters went sour
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In today’s newsletter: The renters’ reform bill was meant to address a
spiralling housing crisis, but as a watered-down version finally passes, we
look a...
9 hours ago
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