Longer term mortgages may ease the monthly burden but cost consumers more overall

Long term costs on a 75% loan to deposit value mortgage for a £250,000 property, reverting to 4% after four years

Monthly repayments

Mortgage

term

4% interest

5%

6%

25 yrs

£989

£1,096

£1,208

£830

£946

£1,069

35 yrs

£783

£904

£1,031

40 yrs

Interest paid over loan term, thousands

4%

5%

6%

£109

£118

£126

25 yrs

£161

£170

£179

35 yrs

£189

£198

£206

40 yrs

Monthly repayments

Interest paid over loan term, thousands

Mortgage

term

4% interest

5%

6%

4%

5%

6%

£989

£1,096

£1,208

£109

£118

£126

25 yrs

£830

£946

£1,069

£161

£170

£179

35 yrs

£783

£904

£1,031

£189

£198

£206

40 yrs