Young homeowners under thirty are locking in 30- to 40-year mortgages, paying around £1,080 a month—meaning they’ll still owe on their homes until nearly age 60. While this eases monthly budgets, it traps them in debt longer and costs thousands in interest. But there’s hope: even small extra payments can dramatically cut the loan term and save tens of thousands. Paying just £50 more monthly on a £202k mortgage saves over £10k and gets you free and clear nearly two years sooner; bump it to £100 and you slash three and a half years off—and save nearly £20k. Smart overpayments turn the tide against long-term debt.
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