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Longer-term mortgage loans monthly repayments of £1,020.78 on a standard 25-year mortgage. In contrast, the same loan taken out over 35 yearsterm. But Brian Murphy, lending manager at Mortgage Advice Bureau, says stretching your loan term should only be a last resort. ‘Stretching a mortgage term to lower the repayments is a risky businesson the higher payments, which could leave a serious mortgageproblem well into retirement.’ Most lenders willif that takes the borrower beyond the age of 85 and Mortgage Express will lend on a 45-year term but not if it takes
http://www.tiscali.co.uk/money/features/mortgages-longer-term-loans.html
Halifax Mortgages | A to Z of mortgages - Halifax.co.uk Mortgage deed A legal document establishing a mortgage on a property. This is called a standard security in Scotland. Mortgage term The length of time over which you agree to pay back your mortgage, up to a maximum of 40 years. top^ This is when the amount you owe on your mortgage is greater than the value of your property. It particularly becomes a problem if you want to move house. top^ a fee to cover the work involved in setting up your mortgage or for certain mortgage rates. top^
http://www.halifax.co.uk/mortgages/A_Z_Mortgages.asp