A MAJOR high street bank has launched a 40-year mortgage for the first time.
HSBC is now offering a four-decade long mortgage to help people hop on to or move up the property ladder.
The big-name bank said the offer, which is its longest ever mortgage term, could help provide people with lower monthly repayments.
But it’s important to not that extending repayments for a longer time period – homeowners could face paying more in interest.
HSBC’s 40-year mortgage is available to all residential applications, including first-time buyers.