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  • I know of the US and Germany, heard about some other places in EU.

    A mortgage allows a borrower a certain amount of time to pay off the loan. The most common amount of time, or “mortgage term,” is 30 years in the U.S., but some mortgage terms can be as short as 10 years.
    https://www.rocketmortgage.com/learn/average-mortgage-length

    as short as 10 years! Cultural differences in one sentence.

  • You're using the US as an example of how mortgages should be done? :D

    Seriously though: what's the impact on fixed rates for the whole term? I'm curious. Does it mean far fewer people own?

  • That is a short mortgage term by UK standards too. the term and the fixed rate interest period are different things

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