More debt slaves will be created by latest 35-year home loans
WE have had six years of bitter financial experiences in this country, but after it all we seem to have learned little.
That can be the only conclusion after it emerged that 35-year mortgages are back in vogue. These types of mortgages are partly responsible for the arrears mess we have yet to clean up.
Just like ultra-cheap tracker mortgages, and 100pc loans, super-term mortgages interfere with the proper running of the mortgage market.