What Is a 35 Year Mortgage?

A A 35-year mortgage allows you to repay your home loan over 35 years instead of the more traditional 25 years. The longer your mortgage term, the lower your monthly repayments will generally be, but you’ll pay more interest overall.

In the past, people typically took out mortgages for 25 years. But high house prices and affordability constraints mean more people are taking out longer-term mortgages, sometimes up to 40 years, to make their monthly repayments more affordable.

So, is a 35-year mortgage a good idea? Here’s what you need to know about the costs, benefits and potential drawbacks.

Always remember: Your home may be repossessed if you do not keep up repayments on your mortgage.

Are 35-year mortgages in demand?

Yes, longer mortgage terms have become increasingly popular, particularly among first-time buyers looking to make their monthly repayments more manageable.

According to MoneyHelper, the average mortgage term for first-time buyers is now 31 years, with some borrowers choosing terms of up to 40 years.

Data published by the Financial Conduct Authority (FCA) also shows that the number of regulated mortgage sales with terms of 35 years or more increased from 260,688 in 2021 to 318,839 in 2025. These figures cover several types of mortgage lending, not just new home purchases.

Taking out a 35-year mortgage can make your monthly repayments more affordable in the short term, but you will generally repay more interest over the course of your mortgage.

To get a better idea of your mortgage options and what mortgage might be right for you, it’s worth speaking to a qualified mortgage adviser.

Your home may be repossessed if you do not keep up repayments on your mortgage.

How much does a 35-year mortgage cost?

Taking out a 35-year mortgage instead of a 25-year mortgage will mean lower monthly payments, assuming the same loan amount and interest rate. However, it will also mean paying more interest overall.

For example, if you took out a £200,000 repayment mortgage with an interest rate of 2% over 25 years, you’d repay approximately £848 a month and a total of £254,400 over 25 years.

If you repaid the same mortgage over 35 years, your monthly payments would drop to approximately £663 a month. But your total repayments over 35 years would increase to around £278,460, equating to approximately £24,060 more.

These figures are for illustration only and assume the interest rate stays at 2% throughout the mortgage term. Actual mortgage rates, fees and repayments will vary.

The important thing to remember is that a longer mortgage term can make your monthly payments cheaper, but your mortgage more expensive overall.

Do banks offer a 35-year mortgage?

Yes, many mortgage lenders offer terms of 35 or 40 years. However, whether you’re eligible will depend on factors such as your age, income, employment and affordability.

It’s also important to understand that a 35-year mortgage term isn’t the same as a long-term fixed rate mortgage.

Your mortgage term is how long you have to repay the loan, whereas your fixed-rate period is how long your interest rate stays the same. For example, you could have a 35-year mortgage with an interest rate fixed for five years.

Most lenders will also have a maximum age you can be when the mortgage ends. This varies between lenders, with some allowing mortgages to run until age 70, 75 or 80, depending on your circumstances.

For instance, if you’re 30 years old and secure a 35-year mortgage, you’ll complete the payments at age 65. This may be acceptable to many lenders, provided you meet their affordability criteria.

But if you are 40 and considering a 35-year mortgage, you’ll be 75 at the end of the term. Not all lenders will offer you a mortgage that runs this long, particularly if it extends into your retirement.

In general, younger borrowers may find it easier to qualify for a longer mortgage term, although lenders will consider individual circumstances.

If you’re an older homeowner, a retirement interest-only mortgage might be another option worth exploring, depending on your circumstances.

To understand how much mortgage you can afford and which term might suit you best, speak to a qualified mortgage adviser.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Should I pay off my mortgage before I retire?

Ideally, you should aim to pay off your mortgage before you retire, if your financial circumstances allow.

Mortgage lenders will want to make sure you can still afford your repayments if your mortgage runs into retirement, particularly if your income is likely to reduce.

Even if you’re accepted for a mortgage that extends into retirement, continuing to make repayments could affect your standard of living later in life.

For example, if you take out a 35-year mortgage at age 40, you could still be making monthly repayments at 75.

It’s worth thinking about how this might affect your retirement plans and whether you could afford your repayments on your expected pension income.

Should I take out a 35-year mortgage?

A 35-year mortgage could be a good option if you need to reduce your monthly repayments to make buying a home more affordable. However, it’s important to weigh up the short-term savings against the additional interest you’ll pay over time.

If you take out a 35-year mortgage, you could consider making overpayments when your finances allow.

For example, you might be able to afford to pay more each month as you progress in your career and earn more. Alternatively, you may receive an inheritance or bonus that enables you to pay off a lump sum of your mortgage.

Both options could help you repay your mortgage sooner and reduce the total interest you pay. However, you should always check your lender’s overpayment limits, as you could face early repayment charges depending on your deal.

Another option is to reassess your mortgage term when you remortgage.

Ultimately, when choosing a mortgage term, you need to strike the right balance between affordable monthly payments and not paying off your home loan for longer than necessary.

If you’re considering a longer mortgage term, it’s worth getting professional mortgage advice to understand how it could affect your finances both now and in the future.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Last Updated: November 9th, 2026