A young couple who secured a 40-year mortgage have hit back at online trolls who branded them 'stupid'. Bryony Clarke, 27, and her partner Charlie, also 27, bought a three-bedroom semi-detached house in Leicester, Leicestershire, for £247,500 in December 2023.
The pair put down a 10% deposit of £24,750 and borrowed £222,750. They chose a 40-year term over a 35-year option to keep monthly payments lower, paying £1,015 per month on a five-year fixed rate of 4.6% with Nationwide. This allowed them to save £50 monthly compared to the 35-year deal and spend £20,000 on renovations including woodwork, carpets, and a new boiler.
After receiving pay rises, the couple now overpay by £100 monthly, bringing their payments to £1,115. Bryony said they plan to reduce the term further when they renew. She was shocked by negative comments on TikTok after sharing their mortgage details, with some calling her 'stupid' and assuming she did not understand the terms.
Bryony explained that the longer term gave them financial flexibility and that they intend to pay off the mortgage early through overpayments and term reductions. She hopes to retire in her 50s, saying, 'The earlier we pay off our mortgage and are totally mortgage-free, the better.'
