Is a cheaper but longer mortgage worth it to get on the ladder?

The rapid extension of mortgage terms from 25 to 40 years means different things for different people

As the cost of buying a property continues to exceed the budgets of many homebuyers, the prospect of paying less – but for much, much longer than previous generations – has emerged.

Recent research from Santander suggests that almost half of buyers would consider taking out a mortgage for a 40-year term in order to get on the property ladder.

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from Property | The Guardian http://bit.ly/2VBclPU
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