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251% surge in 35 year mortgages

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By *1shadesoffun OP   Man
2 days ago

nearby

Over a five year period 2019 - 2024 there has been a 251% increase in the number of older borrowers taking out longer loan terms. And there has also been a 56% increase in the number of borrowers aged 31-35 taking out these lengthy loans. (FOI data)

With the state pension likely to be further deferred it appears to be a life of debt servitude or never ending increasing rents (+6.7% the last year).

Where are the government with affordable housing solutions.

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By *uffelskloofMan
2 days ago

Walsall

It’s a difficult situation for people no doubt.

Housing prices are determined by supply and demand.

If you want to decrease the prices you have to increase the supply or reduce the demand.

We aren’t prepared to reduce demand so you have to increase supply, but I can’t see how that’s going to happen.

We live in a country bogged down by environmental red tape, safetyism, overzealous regulation and inaction.

The government hasn’t got any money to do anything. It’s a shame but if it hadn’t wasted so much money on crap over decades maybe it would have had the fiscal headroom today to help its citizens.

Young people should leave the country and move somewhere with more favourable prospects.

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By *resesse_MelioremCouple
2 days ago

Border of London

Longer term mortgages are a lot more common in many other countries. The recent interest rate shocks have made people very aware of the risks of short term mortgages with the inherent fluctuations.

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By *enSiskoMan
2 days ago

Cestus 3


"Over a five year period 2019 - 2024 there has been a 251% increase in the number of older borrowers taking out longer loan terms. And there has also been a 56% increase in the number of borrowers aged 31-35 taking out these lengthy loans. (FOI data)

With the state pension likely to be further deferred it appears to be a life of debt servitude or never ending increasing rents (+6.7% the last year).

Where are the government with affordable housing solutions. "

The government are allowing this trend simply because they will not take a stand against those who are buying up our assets in terms of housing, and land.

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By *hrill CollinsMan
2 days ago

The Outer Rim


"Over a five year period 2019 - 2024 there has been a 251% increase in the number of older borrowers taking out longer loan terms. And there has also been a 56% increase in the number of borrowers aged 31-35 taking out these lengthy loans. (FOI data)

With the state pension likely to be further deferred it appears to be a life of debt servitude or never ending increasing rents (+6.7% the last year).

Where are the government with affordable housing solutions. "

or they can easily afford it on their enormous private sector pensions more likely.

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