Mortgage Term

Mortgages are traditionally taken out for a 25 year period. There is no reason for this. The mortgage should be affordable and fully paid before they retire.

Many mortgage lenders now offer longer terms, providing the borrower is able to explain sufficient funds to pay the mortgage beyond the expected retirement age. Some mortgage lenders require evidence of repayment vehicles in retirement. Our mortgage brokers will be able to source and advise you the right deals based on your circumstances.

It also worth noting the shorter the mortgage term in years, the less the borrowers pay; an affordability check would determine the monthly budget; surplus and then mortgage term.

If you require mortgage advice and you’re a first time buyer; please submit your details above and one of our mortgage brokers will call you. We Know Mortgages Ltd have access to thousands of mortgage products across the high street and building societies. We’ll guide you through the mortgage process from start to finish. We are based in Manchester city centre.