New figures from UK Finance, shows a surge in the length of mortgage terms, with 20% of first time buyers forced to take out mortgages of more than 35 years to get on the property ladder. p from only 9% in 2022.

The situation is even worse in the new build Market. House builder Taylor Wimpy reports that 27% of first time buyers were taking our mortgages of over 36 years, compared with only 7% in 2021.

Such ballooning mortgage terms risk throwing an entire generation into a lifetime of debt bondage, with lifetime interest payments that can be in excess of the cost of the property itself.

For more see
https://www.bbc.co.uk/news/business-66383279