Loan for 35 years? It is not a strange thing to buy a house in the UK


With rising house prices, persistent inflation and slow pay increases, loan repayments have become quite commonplace, and loan terms have been extended from the past 20 years and 25 years to the present 30 years or even 35 years. Most loan brokers also said extending the loan maturity will be a long-term trend in the future.
69% of lending agents said that in the first half of 2017, 13% of new home buyers choose 35-year loan terms.
As the beginning of the article said, a variety of factors that make people who want to buy a house and did not buy in time have to recalculate their loan plan, I am afraid to consider extending your loan deadline in order to pass the ability to affordability tests and buy a room Suitable house.
At present, about one-third of all first home buyers will choose a loan term of 30 years or more, but no more than 35 years.
Relevant lenders also support this approach, not only to relieve lenders’ repayment pressure but also to ensure that they have more cash to make other investments.


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