Is it better to get a longer mortgage?

Key takeaways

• Mortgage terms of 35 and 40 years are becoming common as buyers seek to lower their monthly costs.
• While monthly payments are lower on a 40-year term, you will pay significantly more in total interest over the life of the loan.
• Most lenders require the mortgage to be paid off by age 70–75, meaning 40-year terms are generally reserved for buyers under 35.
• You can opt for a longer term now to ensure affordability and remortgage to a shorter term or make overpayments later to reduce debt faster.

Can a mortgage be longer than 30 years?

Yes, a mortgage can be longer than 30 years. In fact, mortgages of 35 and 40 years are becoming increasingly common, largely due to rising property prices and higher mortgage rates. 

In 2005, the average mortgage term for a first-time buyer was just 25 years. By the end of 2025, this had risen to 31 years. Longer mortgage terms have helped first-time buyers manage higher interest rates by making monthly repayments more affordable. The trade-off? You'll spread your mortgage over more years. While this means your monthly costs are more affordable, you'll pay more interest overall.

Learn more: What to do in the 6 months before buying a home

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How long can a mortgage be?

The maximum mortgage term you can get in the UK is 40 years, though not all lenders offer this option yet, as it's relatively new. Lenders will also consider your age when deciding whether to offer you a longer mortgage term.

Lenders used to be reluctant to offer long mortgage terms to those who'd retire before paying off their mortgage. They worried that borrowers might struggle to keep up with repayments in retirement.

As property prices have risen and homeownership has become more challenging, some lenders are now more willing to offer 40-year terms to younger borrowers.

Learn more: Buying a house timeline

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Is a long-term or short-term mortgage best?

The best mortgage term for a borrower will depend on their age, priorities, and what they can afford. Spreading your mortgage over 30 or 40 years can make your monthly payments more affordable, helping you manage your expenses more comfortably. If you have a high household income or you need a relatively small mortgage, a shorter term could save you thousands of pounds in interest. Remember, longer mortgages mean paying more interest overall.

You will also become debt-free sooner with a shorter mortgage, which could be particularly helpful if you are getting close to retirement or have other financial commitments. The downside of a shorter-term mortgage is that monthly repayments will be higher than if the loan is spread over a longer period of time.

You could also look for a lender who will allow them to overpay a percentage of their mortgage balance each year without incurring early repayment charges (we can help you find the right one for you).

When you overpay your mortgage, you are essentially paying off some of your mortgage debt early. This reduces the amount of interest owed by making the debt smaller, which helps you become mortgage-free sooner.

Learn more: Should I pay back my mortgage early?

Should you choose a 30- or 40-year mortgage?

If you’re trying to decide between a 30 year or 40 year mortgage term, it’s a good idea to do some quick calculations to get a rough idea of how much each term would cost you, and if you are eligible for terms this long. You can use our comparison tool to do this in seconds.

Most lenders offering 30-40 year mortgages have a maximum age limit of 70-75, although some go up to 80. This means to qualify for a 40-year mortgage, the oldest applicant typically needs to be no older than 30-40. For a 30-year mortgage, that age limit is usually 40-45.

You may decide that the longer term and additional interest are worth it. For many home buyers, the extra interest on a longer mortgage is worthwhile to achieve homeownership. Plus, longer mortgage terms can be a way to make repayments more affordable in the short term - you can always remortgage later down the line to a mortgage deal with a shorter term. If you’re still unsure, talk to a mortgage advisor (like one of our award-winning brokers) to discuss your options and get expert advice.