Ah those poor boomers! Paying 15% interest on their £40,000 mortgage. These millennials don't know how easy they have it, paying 3% on their £200,000 mortgage.
At 3% the millennial will still not be owning their property after 30 years.
The number of 35 year mortgages has risen from 2.7% in 2006 to 15.75% now - https://www.theguardian.com/money/2017/jul/29/goodbye-25-yea... - and 40 year mortgages are becoming more common.
The UK is also on a different economic cycle to Eu, noted by the EU recession that unfolded after the Euro went live. People in Northen Ireland went south to take advantage of recession prices and vice versa. IMO the real reason for Brexit is the Good Friday agreement has failed, the gloss of Buy To Let has tarnished so some of the IRA are looking to get back to their old ways. Making Northern Ireland a gateway into Europe is similar to what the British did with Hong Kong being a gateway into communist China when it cut itself off to the world. Northern Ireland has if the current agreed Brexit deal goes through, so make NI a new Hong Kong which will force all parties to keep voting for it every 4years and keeps them all around the table something the GFA has failed at considering theres been no assembly at Stormount for a few years now. Thing is the political class don't want to give away the above info because then everyone will pile into NI property and make a packet, forcing out the ruling class who benefit from this insider knowledge.
So do you vote for Brexit knowing what you know now or not?
To put that in context - today the GBP bank rate is 0.75% and the average mortgage rate is probably c.1% above that. The base rate would have to rise to more than 5% to get the same size effect on the monthly cost of a repayment mortgage with c.15 years left to run.