{"id":136039,"date":"2023-04-22T13:00:02","date_gmt":"2023-04-22T06:00:02","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/marathon-mortgages-of-up-to-40-years-on-rise-among-uk-first-time-buyers\/"},"modified":"2023-04-22T13:08:40","modified_gmt":"2023-04-22T06:08:40","slug":"marathon-mortgages-of-up-to-40-years-on-rise-among-uk-first-time-buyers","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/marathon-mortgages-of-up-to-40-years-on-rise-among-uk-first-time-buyers\/","title":{"rendered":"Marathon mortgages of up to 40 years on rise among UK first-time buyers"},"content":{"rendered":"


\nMore opt for longer loan deals and lower monthly payments as rents soar in cost of living crisisA standard mortgage used to run for 25 years but experts are reporting a growing trend for marathon loans spread over up to 40 years as first-time buyers and movers opt for lower monthly payments in an effort to bridge the gap between rising living costs and still-high asking prices.New figures show the number of first-time buyers opting for a mortgage term longer than 35 years more than doubled during 2022 to 17%. The number taking out a loan over 30 to 35 years also increased \u2013 from 34% to 38% \u2013 during the same period, according to the banking group UK Finance. Continue reading…
\n
\nSource : theguardian.com
\nRead more…Marathon mortgages of up to 40 years on rise among UK first-time buyers<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

More opt for longer loan deals and lower monthly payments as rents soar in cost...<\/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-136039","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-zob","jetpack-related-posts":[{"id":139400,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/one-in-four-new-uk-homeowners-opt-for-marathon-mortgages-to-cut-payments\/","url_meta":{"origin":136039,"position":0},"title":"One-in-four new UK homeowners opt for \u2018marathon mortgages\u2019 to cut payments","date":"October 2, 2023","format":false,"excerpt":"\r Buyers under 29 choosing at least 35-year repayment terms to bridge gap between rising living costs and high asking prices, says ExperianA quarter of young homeowners who have a new mortgage have opted to pay it back over 35 years or more in an attempt to make monthly payments\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":73980,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/first-timers-face-paying-nearly-50-more-than-other-buyers-for-uk-homes\/","url_meta":{"origin":136039,"position":1},"title":"First-timers face paying nearly 50% more than other buyers for UK homes","date":"December 7, 2017","format":false,"excerpt":"\r FCA says new buyers may pay far more interest as they have to take out longer mortgages than previous generationsFirst-time buyers could pay nearly 50% more than existing home owners for their property because typically they are spreading their mortgage repayments for longer periods of over 35 years.According to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":137256,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mortgages-uk-lenders-continue-to-raise-rates-and-pull-deals\/","url_meta":{"origin":136039,"position":2},"title":"Mortgages: UK lenders continue to raise rates and pull deals","date":"June 5, 2023","format":false,"excerpt":"\r Record 19% of all loans taken out by first-time buyers in March were for 35 years or longerBusiness live \u2013 latest updatesMortgage market misery has stepped up for homebuyers as lenders continue to increase borrowing rates and pull deals, prompting record numbers to take out loans of more than\u2026","rel":"","context":"In "Property 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News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":136511,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mortgages-for-new-uk-first-time-buyers-up-nearly-200-a-month-on-a-year-ago\/","url_meta":{"origin":136039,"position":4},"title":"Mortgages for new UK first-time buyers up \u2018nearly \u00a3200 a month\u2019 on a year ago","date":"May 5, 2023","format":false,"excerpt":"\r Rightmove says rise due to higher home loan rates and record asking prices for propertiesNew first-time buyers are typically paying nearly \u00a3200 a month more on their mortgage than a year ago because of a combination of higher home loan rates and record asking prices for properties, new data\u2026","rel":"","context":"In "Property 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