http://www.mortgageguideuk.co.uk/blog/advice/why-i-increased-my-mortgage-term-from-30-years-to-47-years/ Simplifying Finance, Housing and debt Thu, 18 Mar 2010 06:56:59 +0000 http://wordpress.org/?v=2.9 hourly 1 http://www.mortgageguideuk.co.uk/blog/advice/why-i-increased-my-mortgage-term-from-30-years-to-47-years/comment-page-1/#comment-1010 Top 10 Tips for Getting Your First Mortgage | Finance Blog Thu, 21 Feb 2008 11:24:05 +0000 http://www.mortgageguideuk.co.uk/blog/advice/why-i-increased-my-mortgage-term-from-30-years-to-47-years/#comment-1010 [...] People of the older generation, inevitably dislike the idea of getting a longer mortgage term. In a sense they are correct, getting a longer mortgage will definitely increase the total cost. If you can pay off your mortgage quicker you will reduce the total cost of buying a house quite significantly. However, a 40 year or 50 year mortgage will reduce your monthly payments and make a mortgage less overbearing. If you can pay off your mortgage in 10 or 20 years, then definitely do it. But, if you are an average first time buyer, this is often unrealistic given the high price of houses. If you have a choice between a 50 year mortgage and renting for the rest of your life, then you are likely to be better off buying and taking out a longer mortgage term. (Why I chose a 47 year mortgage) [...] [...] People of the older generation, inevitably dislike the idea of getting a longer mortgage term. In a sense they are correct, getting a longer mortgage will definitely increase the total cost. If you can pay off your mortgage quicker you will reduce the total cost of buying a house quite significantly. However, a 40 year or 50 year mortgage will reduce your monthly payments and make a mortgage less overbearing. If you can pay off your mortgage in 10 or 20 years, then definitely do it. But, if you are an average first time buyer, this is often unrealistic given the high price of houses. If you have a choice between a 50 year mortgage and renting for the rest of your life, then you are likely to be better off buying and taking out a longer mortgage term. (Why I chose a 47 year mortgage) [...]

]]> http://www.mortgageguideuk.co.uk/blog/advice/why-i-increased-my-mortgage-term-from-30-years-to-47-years/comment-page-1/#comment-671 Reasons not to pay off your mortgage | Mortgage Blog Thu, 29 Nov 2007 11:30:01 +0000 http://www.mortgageguideuk.co.uk/blog/advice/why-i-increased-my-mortgage-term-from-30-years-to-47-years/#comment-671 [...] Why I increased my mortgage term [...] [...] Why I increased my mortgage term [...]

]]> http://www.mortgageguideuk.co.uk/blog/advice/why-i-increased-my-mortgage-term-from-30-years-to-47-years/comment-page-1/#comment-393 Struggling to pay mortgage? | Mortgage Blog Tue, 02 Oct 2007 15:24:20 +0000 http://www.mortgageguideuk.co.uk/blog/advice/why-i-increased-my-mortgage-term-from-30-years-to-47-years/#comment-393 [...] Another option for reducing mortgage payments is to increase mortgage term. It will cost more in the long term, but, does increase short term affordability. see: Why I increased my mortgage term [...] [...] Another option for reducing mortgage payments is to increase mortgage term. It will cost more in the long term, but, does increase short term affordability. see: Why I increased my mortgage term [...]

]]> http://www.mortgageguideuk.co.uk/blog/advice/why-i-increased-my-mortgage-term-from-30-years-to-47-years/comment-page-1/#comment-195 Getting my First Mortgage. | Mortgage Blog Mon, 13 Aug 2007 16:22:50 +0000 http://www.mortgageguideuk.co.uk/blog/advice/why-i-increased-my-mortgage-term-from-30-years-to-47-years/#comment-195 [...] deal, (with existing company) and also extended my mortgage term from 31 years to 47 years. See: Why I increased mortgage term to 47 years People usually tell you that extending your mortgage is a bad idea. But, for me it was a good move; [...] [...] deal, (with existing company) and also extended my mortgage term from 31 years to 47 years. See: Why I increased mortgage term to 47 years People usually tell you that extending your mortgage is a bad idea. But, for me it was a good move; [...]

]]> http://www.mortgageguideuk.co.uk/blog/advice/why-i-increased-my-mortgage-term-from-30-years-to-47-years/comment-page-1/#comment-119 Guide to Getting your First Mortgage | Mortgage Blog Wed, 01 Aug 2007 10:14:54 +0000 http://www.mortgageguideuk.co.uk/blog/advice/why-i-increased-my-mortgage-term-from-30-years-to-47-years/#comment-119 [...] Longer Mortgage Term. Don’t worry about getting a standard 25 year mortgage term. If you get a 40 or 50 year mortgage you will increase your overall mortgage interest payments, however, you will make your mortgage repayments more affordable in the short term. See why I increased my mortgage term from 30 to 47 years. [...] [...] Longer Mortgage Term. Don’t worry about getting a standard 25 year mortgage term. If you get a 40 or 50 year mortgage you will increase your overall mortgage interest payments, however, you will make your mortgage repayments more affordable in the short term. See why I increased my mortgage term from 30 to 47 years. [...]

]]> http://www.mortgageguideuk.co.uk/blog/advice/why-i-increased-my-mortgage-term-from-30-years-to-47-years/comment-page-1/#comment-92 Welcome to the 110th Carnival of Personal Finance - Fat Pitch Financials Mon, 23 Jul 2007 12:31:03 +0000 http://www.mortgageguideuk.co.uk/blog/advice/why-i-increased-my-mortgage-term-from-30-years-to-47-years/#comment-92 [...] Blog shares some of the reasons they are increasing their mortgage term from 30 years to 47 years.  I’m not sure I agree with the reasoning present in this [...] [...] Blog shares some of the reasons they are increasing their mortgage term from 30 years to 47 years.  I’m not sure I agree with the reasoning present in this [...]

]]> http://www.mortgageguideuk.co.uk/blog/advice/why-i-increased-my-mortgage-term-from-30-years-to-47-years/comment-page-1/#comment-77 Wealth or Income: Which is more Important? | UK House Prices Sun, 15 Jul 2007 10:18:43 +0000 http://www.mortgageguideuk.co.uk/blog/advice/why-i-increased-my-mortgage-term-from-30-years-to-47-years/#comment-77 [...] Another way to reduce mortgage payments is to extend your mortgage term. See: Why I extended my mortgage term  to 47 years. [...] [...] Another way to reduce mortgage payments is to extend your mortgage term. See: Why I extended my mortgage term  to 47 years. [...]

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