With interest rates high, locking in until 2031 could be a costly mistake. Here is why a growing number of borrowers are opting for shorter mortgages right now.
Mortgages
If you spent your Boxing Day finishing off the turkey sandwiches and browsing dream homes on your phone, you certainly weren’t alone. The property market has just woken up to its busiest start in history.
Mortgages
Three in five first-time buyers depend on the bank of mum and dad in order to get onto the property ladder, according to research by Just Group. In the last five years, 61 per cent of FTBs relied on financial help from relatives in order to purchase a property. In comparison, just 20 per cent of FTBs relied on financial assistance from relatives 30 years ago.
