What term can I have on my mortgage? Cambridge Mortgage Broker Mortgage Term
March 2nd, 2017
The traditional 25 year mortgage is fast disappearing with many mortgage lenders now offering terms of up to 40 years and lending up to age 75 years old, subject to status.
By having your mortgage over a longer term, this could mean that you could keep your monthly mortgage costs lower in the short term however it is important to note that a longer term could mean paying more in the longer term for your mortgage. Plus depending on your occupation, it is important to think of your future and your planned retirement.