London buyers increasingly opt for ‘marathon mortgages’

Figures from Experian show that 27% of under-30s in London taking on a mortgage this year did so with a term of 35 years plus - up from 11% in 2020. The data also reveals that 38% of Londoners currently have a home loan that will continue beyond the typical retirement age of 67 – exceeding the overall UK rate of 33%. Experian said: "Looking at our data, we can see that there has been a 144% increase in under-30s taking out a mortgage with a 35-year plus term, in just three years." 

Evening Standard (30/10/2023)