Was there any point when you could get a 30 year fixed loan at 3% in the UK?
It makes sense that some banks might be offering them now at 7% since they have little to lose but I don’t think low interest longterm fixed mortgages are really possible without significant government interference (like in the US).
All this is true. The US government does significantly subsidize home loans. However they do this for all lengths of mortgages, not just the long ones.
Comments
Was there any point when you could get a 30 year fixed loan at 3% in the UK?
It makes sense that some banks might be offering them now at 7% since they have little to lose but I don’t think low interest longterm fixed mortgages are really possible without significant government interference (like in the US).
All this is true. The US government does significantly subsidize home loans. However they do this for all lengths of mortgages, not just the long ones.