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Lenders under scrutiny for increase in ultra-long mortgages

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May 13, 2024
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Former Pensions Minister Sir Steve Webb has raised concerns over the growing trend of young homebuyers taking on ultra-long mortgages, potentially jeopardizing their retirement prospects. In a shocking revelation, data provided by the Financial Conduct Authority (FCA) to the Bank of England shows that over a million new mortgages have been issued in the past three years with end dates extending…

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