Sales of mortgages with terms of more than 35 years have tripled in the last five years, topping 116,000 in 2024 and reaching over 93,000 in the first three quarters of 2025.
An analysis of Financial Conduct Authority (FCA) data by Compare the Market found the popularity of the longer-term mortgages has steadily increased over the last five years. In 2020, just over 36,000 borrowers opted for mortgages with terms of over 35 years, rising to 53,000 in 2021, 66,000 in 2022 and almost 91,000 in 2023.
With the average age of a first-time buyer in England at 34, many borrowers could be repaying the mortgages into their seventies.
“Higher interest rates and house prices have inevitably led to more borrowers pushing their payments down by taking longer mortgage terms,” said David Hollingworth, associate director at L&C Mortgages.
“That can give more flexibility for monthly budgeting but it does come with a significant cost over the life of the mortgage.”
Ultra-long mortgage terms are most popular in London and the South West, where 12,500 people took out the loans in the first three quarters of 2025 (the most recently available data at the time of analysis). In the North East, just 2,600 borrowers opted for the long term products.
“While ultra long mortgages can make monthly repayments more affordable in the short term, they come with a significant trade-off as borrowers could end up paying more in interest over the lifespan of the loan,” warned Emily Barnett, mortgage expert at Compare the Market.
“It’s understandable that many are stretching their terms to cope with high house prices and tighter affordability tests, but it’s wise to consider this alongside the long-term cost implications.”
