It is open to all buyer types – purchasers, home movers, and switchers
Danske Bank UK, one of the largest banks in Northern Ireland, has launched a 40-year mortgage term for residential mortgage customers who are looking to purchase, move home, or switch.
The new term is now available on the lender’s carbon neutral mortgage in Great Britain, and all fixed rate and tracker mortgages in Northern Ireland, subject to terms and conditions.
Forty-year mortgage terms will not be available on shared ownership schemes, such as Help to Buy or NI Co-Ownership.
“We know that people continue to face issues around affordability, and we’re keen to play our part in helping them on their home buying journey, particularly those looking to buy their first home,” said Patrick Mullan, head of GB mortgages at Danske Bank UK, (pictured) .
“Under the right customer circumstances, offering a 40-year term will be the key to getting on the property ladder, and our range of products and features, including the ability to overpay, can help customers to manage and reduce their mortgage term more effectively over the coming years.”
Outside Northern Ireland, Danske Bank UK mortgages are available only through brokers registered with Mortgage Advice Bureau and for homes with an energy performance certificate (EPC) rating of ‘A’ to ‘C’ in the East of England, South West, and South East, including London.
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