Australian Lender Offers 40-Year Mortgage Amid Housing Crisis

The initiative aims to ease housing affordability pressures by lowering monthly repayments, though it results in higher total costs over time.

An image of Australian $50 banknotes. A. Ming/ The Epoch Times

Non-bank lender Pepper Money has announced Australia’s first 40-year mortgage, with terms extending until December 2065.

The start-up is offering the package to ease housing affordability pressure with lower monthly repayments, though it will result in higher total costs over time.