New Freedom of Information (FOI) data from the FCA gathered by Quilter has revealed a sharp increase in the number of mortgage sales with a term of 35+ years at the beginning of 2021. In March of this year, 25,112 mortgages were sold with a term of 35+ years, a 70% increase compared with 14,765 in March 2019. In March 2018 14,683 were sold. For three years prior, at no point did sales surpass 20,000. The same FOI request revealed that March 2021 also saw the highest total number of mortgage sales for the past three years, likely due to the original stamp duty holiday deadline of 31st March. Read more on the Financial Reporter website.
https://www.financialreporter.co.uk/mortgages/number-of-mortgage-sales-with-35-year-terms-up-70.html
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