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Mortgages that last until you're 85

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None existed five years ago... but now there are more than 1,000 deals on the market

Homeowners who want to borrow into their 80s now have more choice than ever before. Five years ago there was not a single mortgage that allowed borrowers to repay their debt between the ages of 80 and 84. But following a sharp increase in demand from older borrowers, there are now more than 1,000 up for grabs, according to data analysts Moneyfacts.

Daily Mail

 

For many people the choice is clear rent or pay mortgage until you drop.

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42 minutes ago, rollover said:

 

For many people the choice is clear rent or pay mortgage until you drop.

How many do they sell?

The interesting bit is always in the detail.

These are uber specialist loans which is the only market available to the small BS and NW.

UK BS cannot compete in the main mortgage market. So you have the BSs that were behind the masive boom in UK house prices having to content with selling a and handful of mortgages in a market none of the few remaining banks want.

The impliction of this is terrible for UK house prices.

 

 

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Pah! Raise the age limit to 105 and make mortgages multi-generational. That should really get the housing market moving again.

 

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12 minutes ago, zugzwang said:

Pah! Raise the age limit to 105 and make mortgages multi-generational. That should really get the housing market moving again.

 

They tried the multi-generational mortgages in Japan and it works for some time.

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8 minutes ago, rollover said:

They tried the multi-generational mortgages in Japan and it works for some time.

Until all the youth either go on strike or emigrate

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19 minutes ago, rollover said:

They tried the multi-generational mortgages in Japan and it works for some time.

Define works?

Japan has the cheapest real estate in the developed world.

Go out in the sticks and theyll pay you to live there.

 

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1 minute ago, spyguy said:

Define works?

Japan has the cheapest real estate in the developed world.

Go out in the sticks and theyll pay you to live there.

 

They have now, but not at the time when the mortgages were popular.

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  • 294 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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