To: Mortgage lenders
100 year Mortgages
In order for people to be able to afford mortgages without huge deposits, we should be offered 100 yr mortgages. This could help many, this product is offered in Japan and Europe and the increase in the take up of these mortgages could help the economy but more importantly it would offer an affordable way for people to be able to pay their mortgages, thereby increasing the number of people who would then be in a better position to be able to buy their own homes. This course of action may eliviate the huge demand for social housing.
Why is this important?
Because many people want to buy their own homes but cannot afford the monthly repayments set over a 25-30 yr agreement.