One of my friends in the UK just bought a condo in the lovely OXO building in London’s South Bank using a 50-year mortgage.
As he’s in his mid-40’s we all just had a good laugh about it, him included. He has absoutley no intention of living there for 50 years, but the rate was good, and they seem to be gaining popularity in the hyperinflated London housing market.
He’s not an FB either – he just sold his SE London flat for a fortune, and it was cheaper to do a 50-yr than get an I/O loan, so I have no doubt he’ll be fine when London prices tank (which they will, eventually).
