Seven year window of opportunity

[DimPrawn]

Mortgage curbs mean fewer loans for the over-50s - Telegraph

The over-50s face a crackdown on mortgages under wide-ranging new plans to stop irresponsible lending, the financial services regulator will announce today.


BBC - Newsbeat - First-time buyers react to government's housing plan

It's thought the average age to own a house for the first time is now almost 43.



Still, houses are affordable, as long as we have zero base rates and print a few hundred billion pounds every year....

[BrilloPad]

It's thought the average age to own a house for the first time is now almost 43.

But they can get a mortgage until they retire. Which will be 75 soon. So 32 years to pay it off. You just cannot switch your mortgage provider after the first 7 years.

[PAH]

1 year window of opportunity

BBC News - New mortgage lending rules set out by FSA

New rules to stop a resurgence in risky mortgage lending are likely to be imposed in 2013 by the Financial Services Authority (FSA).

The regulator's revised proposals still intend to bring in "common sense" standards that will stop home buyers borrowing more than they can afford.

Quick. Get your mortgage before they stop you getting one you can't afford.

Don't worry about being in negative equity from day one, it only matters if you're struggling to pay your mortgage and have to sell.

[lilelvis2000]

But they can get a mortgage until they retire. Which will be 75 soon. So 32 years to pay it off. You just cannot switch your mortgage provider after the first 7 years.

And this will not somehow fall into the restrict of trade area of the law? Surely if I see a better deal after two years I should be allowed to go for it.