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Britannia offers 40-year deal

Britannia Building Society is increasing its maximum mortgage term to 40 years.

Tim Franklin, managing director of Britannia’s Member Business, says: “As a responsible lender we have looked at ways for first time buyers to overcome initial affordability requirements and decided to review our existing 30 year mortgage.

There will be the opportunity to reduce the mortgage term once they have found their feet on the property ladder.”

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