Buyers under 29 choosing at least 35-year repayment terms to bridge gap between rising living costs and high asking prices, says Experian
A quarter of young homeowners who have a new mortgage have opted to pay it back over 35 years or more in an attempt to make monthly payments more affordable, according to Experian.
Analysis by the credit data company found that 25% of new homeowners aged 29 and under between January and March this year had opted for a repayment term of at least 35 years.
