{"id":105163,"date":"2019-03-19T23:40:12","date_gmt":"2019-03-19T16:40:12","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/forty-year-mortgages-life-sentence-or-life-raft\/"},"modified":"2019-03-20T00:03:12","modified_gmt":"2019-03-19T17:03:12","slug":"forty-year-mortgages-life-sentence-or-life-raft","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/forty-year-mortgages-life-sentence-or-life-raft\/","title":{"rendered":"Forty-year mortgages: life sentence or life raft?"},"content":{"rendered":"


\nIt can dramatically cut monthly repayments \u2013 but there\u2019s one rather big catchNew figures suggest that the traditional 25-year mortgage is becoming a thing of the past. More than half (51%) of those on sale have a standard maximum term of up to 40 years, according to the financial data website Moneyfacts \u2013 up from 36% in 2014. But is the 40-year mortgage a nifty way for desperate buyers to get on to the housing ladder \u2013 or a financial life sentence?High house prices, escalating student debt and a rise in both the age at which couples have children and life expectancies are contributing to many people buying a home later and opting for a longer repayment term \u2013 even if it means they will be paying it off long after they have started collecting their pension. Continue reading…
\n
\nSource : theguardian.com
\nRead more…Forty-year mortgages: life sentence or life raft?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

It can dramatically cut monthly repayments \u2013 but there\u2019s one rather big catchNew figures suggest...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-105163","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-rmb","jetpack-related-posts":[{"id":80403,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/32000-households-are-in-mortgage-of-3-months-or-more\/","url_meta":{"origin":105163,"position":0},"title":"32,000 households are in mortgage of 3 months or more","date":"February 20, 2018","format":false,"excerpt":"\r A drop in household income and prolonged unemployment or illness are among the common reasons why Singapore households fall into mortgage arrears, revealed the Ministry of National Development. Notably, out of the 405,000 households with outstanding Housing and Development Board (HDB) loans for the past three years, 7.9 percent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120834,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/im-paying-off-the-mortgage-on-my-flat-whats-the-best-way-to-buy-a-house\/","url_meta":{"origin":105163,"position":1},"title":"I\u2019m paying off the mortgage on my flat \u2013 what\u2019s the best way to buy a house?","date":"June 7, 2021","format":false,"excerpt":"\r I\u2019m wondering if I should sell my current property, or try to keep it to bring in rental income Q I bought my flat with a mortgage about six years ago, scraping my way in as a first-time buyer just before any of the government\u2019s help-to-buy schemes were available.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":55915,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/whats-the-best-way-of-paying-off-my-interest-only-mortgage\/","url_meta":{"origin":105163,"position":2},"title":"What's the best way of paying off my interest-only mortgage?","date":"May 25, 2017","format":false,"excerpt":"\r I have a savings account plus two Isas, and need advice to ensure I can repay the outstanding balance in five yearsQ I have an interest-only mortgage from a well known high street bank. The balance outstanding is \u00a3139,000. The lender has informed me that I have five years\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":98435,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/can-my-ex-partner-get-a-mortgage-deal-so-she-can-stay-in-our-house\/","url_meta":{"origin":105163,"position":3},"title":"Can my ex-partner get a mortgage deal so she can stay in our house?","date":"September 24, 2018","format":false,"excerpt":"\r She doesn\u2019t have funds to buy me out and couldn\u2019t afford to pay the whole mortgageQ My partner and I bought a house together as tenants in common with a four-year fixed-rate mortgage. The house was \u00a3370,000 and the deposit was \u00a3150,000 which I had inherited on my dad\u2019s\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93891,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/im-65-and-my-interest-only-mortgage-is-ending-what-can-i-do\/","url_meta":{"origin":105163,"position":4},"title":"I'm 65 and my interest-only mortgage is ending \u2013 what can I do?","date":"July 16, 2018","format":false,"excerpt":"\r I still owe \u00a3112,000 and I want to stay in my house, not sell up to pay it off Q I\u2019m 65 and single and still work part time earning \u00a323,000 a year (\u00a31,560 monthly) on top of my private pension of \u00a3550 and state pension of \u00a3700 (both\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":136059,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/we-want-to-buy-a-seaside-flat-as-a-second-home-what-type-of-mortgage-is-best\/","url_meta":{"origin":105163,"position":5},"title":"We want to buy a seaside flat as a second home. What type of mortgage is best?","date":"April 24, 2023","format":false,"excerpt":"\r My partner and I \u2013 he is a first-time buyer \u2013 would use the property at weekends and for holiday letsQ My partner and I are buying a second home to use as a holiday home. He\u2019s a first-time buyer but I\u2019m not as I own the flat that\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/105163"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=105163"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/105163\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=105163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=105163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=105163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}