50-Year Loans - Pros and Cons Estate Agents Newham

50-Year Loans – Pros and Cons


Our estate agents in Newham always stay up to date on everything relating to the real estate and housing market. One subject that has been talked about quite frequently lately is the concept of fifty-year home loans.

Here’s what estate agents in Newham have learned about this initiative:

  • The main goal of the fifty-year loan initiative is to help more people access the property ladder
  • By extending the term of the mortgage, the monthly rates drop, and the average buyer will be able to borrow more. In fact, estimations show buyers could take loans of up to eight times their income instead of the current average of 3.2
  • For example, with an annual income of £50,000, a first-time buyer could get a £400,000 loan. Right now, they can’t take more than £150,000.
  • To follow the guidelines of the Bank of England, banks would back these long-term loans with pension funds and insurance companies instead of consumer deposits as they are currently using as backup for mortgage loans, according to our estate agents in Newham
  • These long-term mortgages do have the advantage of having fixed rates and allowing those who are priced out or cash-strapped to become first-time buyers instead of being stuck as renters
  • Fifty-year mortgages could be transferred to other properties and also to successors
  • However, our estate agents in Newham emphasized that this type of mortgage may come with certain associated risks as well as turn out to be more costly
  • The longer-term fixed rate of these fifty-year mortgages could cost the average first-time buyer more over the course of the fixed-rate period
  • In addition, there are risks associated with the fact that these mortgages will still have to be paid when the borrower is in retirement and has a lower income

If you are a first-time buyer and want to buy a home or an investor looking for a new property, our Newham estate agents are always available to assist you in making the most profitable deal. Contact us today at 02070550441 or info@realestateagentslondon.co.uk.

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Estate Agents Qaiser

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Rizwan Ashraf

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From just a walk in to prompt service delivery. Adil took time to explain about property market and was very professional in every aspect of negotiation and final house letting process. So far property management has been satisfactory.
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Remax barking is best agents Mr Adil is best Man to deal with we take House From Mr Adil in 2018 now in 2021 we are moving From house But There service is very professional and decent I moving my house but in many years no problem with them regarding anything I live in U.K. since 15 years but this is the best agency we had if you guys be with remax barking road you never be a disappointed that’s for sure great service see you in future Mr Adil thanks for you kind service god bless you 🙏
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Thunicia Moodley
I approached REMAX after being dissatisfied with another agent in the area, who was very poorly responsive, negligent with our property, & unable to rent it out for 3 months. From the first interaction, Adil was highly responsive, provided advice on what was required to bring the property back up to standard, and swiftly obtained quotes for all work that needed to be carried out. REMAX oversaw completion of the extensive work & secured tenants in approximately 4 weeks. I initially contacted REMAX, amongst other agents, due to their high Google ratings. Based on my own experience, I rate the level of customer service & professionalism 5 star. Thank you Adil & Team.
Anam Asghar
Anam Asghar
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Nitu Mariana
Nitu Mariana
I have just secured a new apartment using the REMAX Canning Town Branch, and during the whole process, Mr Masood Qaiser was very helpful. I contacted him through Facebook regarding the available property. He was very professional, good communicator. Patient and reliable. Explained all the processes and followed up with emails and calls, which helped put my mind at ease and helped me throughout the whole process, making the process smooth and easy. Even he helped me with switching the bills. So I very much recommend this agency. I had a positive experience with them.
Martin Parvanov
Martin Parvanov
I saw so many properties to rent in Facebook . You have so many advertises and when I ask Julian if they are still available He doesn't reply to me. Even not only him ..There is another guy I can't remember his name and he doesn't answered on my messages as well. This is the reason to give you only one star
Saugat Budhathoki
Saugat Budhathoki
I've used Remax Canning Town Branch for Letting my apartment in Rathborne Market. Mr Rizwan is reliable and goes the extra mile to help and secure the professional tenants as I wanted. On top of his knowledge and experience, Rizwan is kind and personable, a pleasure to work with him, and I recommend REMAX wholeheartedly.

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