GBNews published this video item, entitled “Extra-long term mortgages will cause more ‘problems’, says housing expert” – below is their description.
Extra-long term mortgages on family homes which could be passed on from parents to their children are being considered within Government as part of plans to ease the housing crisis.
The idea could see people able to buy a home with little or no expectation of completing mortgage repayments during their lifetime, instead the property and outstanding debt would be passed on to their children.
Mortgages lasting 100 years have been issued in Japan but experts were sceptical about the impact the proposal would have in the UK.
The idea has been floated within government as it could allow people to buy a bigger home than they otherwise might be able to afford.
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