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30 And 35 Year Morgages

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Why are more companies giving people 30 and 35 year morgages and more than 4x multiple incomes??

Surely this is just a slow drift downhill until we reach the point when it is like Jpana and have lifetime morgages???

They should only be allowed to offer 25 year morgages like they have before hte slowdown...

I know know of 2 couples - FTB's - who have taken 35 year morgages and are still stretched....

Still better than my friend who took an IO morgage and is still stretched..

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I'll be looking at no more than 20 year mortgage (possibly less) and no more than 1/3 of my take home salary going out on it.

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Yes, maybe the next big 'evolution' in the market (thanks TTRTR) will be the giant tortoise mortgage, or the village oak mortgage.

The products will range from 150-500 years.

Maybe I can saddle my great great great great grandchildren with debt. At least it will be a way to be remembered. Ah family eh, bless them.

The way to deal with the largest bubble in history is to let our gggggreat grand children pay it off over 300 years, not reduce prices in 2005, and solve the problem immediately.

Everyday in everyway this just sounds a little more like the dot.con boom. :lol:

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  • 342 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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