Thursday, November 9, 2006

The madness of 52-year mortgages

are 52-year mortgages the way to get on the property ladder?

It‘s that time of the month again, when all eyes fall on the Bank of England as it deliberates on interest rates...The buoyancy of the UK housing market is of particular concern. Property pundits and lenders say that a supply and demand imbalance is to blame for rising house prices, but the fact that there are now so many weird and not-so-wonderful ways to overstretch yourself to get on the housing ladder shows that easy lending is the reason for the continued boom. Just look at the 52-year mortgage offered by Tesco...

Posted by mary @ 11:07 AM (437 views)
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4 thoughts on “The madness of 52-year mortgages

  • As I’ve maintained for some time. The real driver of the housing boom has not been demand, but cheap credit supply.

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  • 52-year mortgage offered by Tesco

    Mmm, 52, that’s the number of playing cards required to play a hand of poker, isn’t it? How appropriate.

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  • What an excelent idea, lets spend the rest of our lives in debt.

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  • Just think. Taking out a mortgage at the age of 29 only to pay it off by the age of 81. That’s if you live that long. What a lovely life.:-)

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