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Longer term mortgage case studies

ended 25. April 2023

A journalist at the Daily Telegraph is looking to speak to a borrower case study who is happy to discuss why they went with a longer term mortgage of, say, 30-40 years. For example, did they feel like it was their only option to get on the housing ladder, did the cost of living crisis and affordability influence their decision, and do they plan to reduce the term when they remortgage or perhaps start earning more? Or maybe they plan to make overpayments? If you have a case study who's willing to chat, the journalist will likely quote you in the piece, too. Please don't reply if you can't provide a case study.

2 responses from the Newspage community

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Editor
Mike Staton
Director at Staton Mortgages
Most people look at their terms as the be-all and end-all of their mortgage, when in fact, my view is it is a repayment plan. I feel this is more so during the cost of living crisis when clients' disposable income is more important than ever, with most lenders offering generous overpayment facilities, clients are taking advantage of that and keeping their initial costs to a minimum by selecting a 30 or 40-year mortgage whilst still having the ability to pay their mortgage off in 15 or 20 years with the overpayment facility. This is how my mortgage is set up, i can pay an additional £300 per month on my 31-year term, if I continue to do this then I will have repaid my mortgage in 18 years but should I hit financial difficulty, then we can reduce our outgoings by stopping our overpayments without affecting our credit score
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Adam Smith
Founder at Alfa Mortgages
I have a case study who is happy to chat. Please get in touch.