London continues to struggle with soaring property prices, and now we face a higher and uncertain interest rate landscape, there are a growing number of homeowners that are considering mortgages with terms in excess of 30 years.
These extended terms can be tempting, after all they offer lower monthly payments that make home ownership more affordable. However, its crucial to understand the pitfalls that come with these types of mortgages, especially in the current climate. Long terms mortgages seem to be an attractive option for many, primarily first-time buyers or those with tighter budgets.
