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  • tbf I know a bunch of people taking mortgage terms that take them to 70, guess the hope is inheritance in the future or appreciation in house price comes to the rescue and downsizing at some point. Japan has had 100 year mortgages since for several decades but I assume maybe incorrectly that they do more multi-generational living.

    If they do introduce them here, I imagine there will be a short window where you can go max pain and borrow an absurd amount before house prices adjust accordingly and do well out of it. After that, house prices will of gone up in line with borrowing potential that you just get the same as you could afford now but costing more.

  • tbf I know a bunch of people taking mortgage terms that take them to 70, guess the hope is inheritance in the future or appreciation in house price comes to the rescue and downsizing at some point

    It's also probably with goal paying less initially then increasing when earning more later in life

  • Nah, some of them are 40+ so near maxed out earnings potential, just can't afford bigger payments so need max term

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