More than 10,000 Britons took out mortgages they won't have paid off until 2058 last year, with one couple signing up for a 40-year loan at 65 Last year 42 per cent of borrowers took out a loan lasting longer than 25 years Almost 10,600 40-year mortgages were taken out in 2018 One loans went to a 65-year-old couple who could still be repaying it aged 105
By James Burton For The Daily Mail
Published: 23:07 BST, 26 May 2019 | Updated: 23:09 BST, 26 May 2019
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Thousands of house buyers are taking out marathon 40-year mortgages which will saddle them with vast interest payments, figures show.
Almost 10,600 four-decade mortgages were taken out in 2018 as buyers battled to get on the property
