Johnson Weighs 50-Year Mortgages That Children Can Inherit
- UK prime minister exploring plans to boost housing demand
- Johnson is trying to boost supply of credit to home buyers
A row of terraced residential properties stands in London, UK.
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Boris Johnson is exploring plans to offer British home-owners longer mortgages that can be passed between generations, the latest move by the government to stimulate housing demand.
Buyers could be offered mortgages for 50 years or more, with the outstanding debt when they die passed to their children, according to a person with knowledge of the matter. Longer loan durations would allow home buyers to pay more for properties because they would have lower monthly payments.