Mortgage Glossary: Mortgage Term

Mortgage Term

The "term" of a mortgage is simply the length of time over which the lender is willing to advance you the money before it must be repaid. The standard mortgage term in the UK is 25 years. Some lenders are prepared to make advances over longer periods, up to 30 and in rare cases even 50 years while you may always negotiate a shorter term yourself.

In fact although the standard term is 25 years, the average length of time that we keep a mortgage between moves is, in fact, only around 7 years!

Get professional help from a qualified independent mortgage advisor and see how much you could save on your mortgage payments. There's no obligation, just plain good advice.

See also: Financial Services, Mortgages