2 ms·
Makes total sense when owning a home is everything here but very few can afford a 5y mortgage against a $300k+ asset.
by nunez 2y ago
Makes total sense when owning a home is everything here but very few can afford a 5y mortgage against a $300k+ asset.
- tzs 2y agoI believe they are talking about 2 or 5 year rate locks, not 2 or 5 year mortgage terms. Most UK mortgages are 25 or 30 years, but they switch from a fixed rate to a variable rate after the first few years.
- fuzzythinker 2y agoThat sounds worst that you are binding into a contract that you have no idea how much you have to pay for so many years.