The rising popularity of 35-year mortgages could be
storing up problems for the future, the Bank of England’s deputy governor has
warned. As house prices have surged, a growing number of borrowers are being
forced to spread home loans over a longer period than the traditional 25 years. Almost 16 per cent of all mortgages now last 35 years or
more, against less than 3 per cent in 2005. The Bank is worried that many
people taking out these loans will still be paying them off after retirement.
Read more on the Daily Mail website.
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