We spoke to Harry O'Sullivan about 40-year mortgages. They are slowly increasing in popularity, and it's timely given Great Southern Bank came to the table with a new offer for first home buyers. But as Harry discusses, it's not all about lower repayments. You'll hear that he's quite against it, as all it might do is fuel house price gains further and induce demand, while adding significantly to interest costs.
40 year mortgage info here:
https://www.savings.com.au/news/another-40-year-home-loan-hits-the-market
https://www.savings.com.au/home-loans/should-first-home-buyers-take-out-a-40-year-home-loan
00:24 - Savings tip
02:29 - 40 year mortgages
04:03 - Crunching the numbers
04:58 - Lenders offering them
06:43 - The new normal?
08:41 - Intergenerational mortgages?
09:28 - Not that bad
