Podcasts Other The Mike Hosking Breakfast Rupert Gough: Mortgage Lab founder on banks not offering 40 year mortgages

Rupert Gough: Mortgage Lab founder on banks not offering 40 year mortgages

Published: Oct. 31, 2022, 12:58 a.m.

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A red line is being drawn through the idea of a 40-year-mortgage.

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With interest rates up and property prices still high, some buyers are asking why banks can\'t offer a longer mortgage term to make payments more affordable.

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Currently, all lenders are maxed out at 30 years.

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Mortgage Lab\'s Rupert Gough says interest becomes very expensive over 40 years.

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