A mortgage for life – and beyond

Last week, the first ‘inter-generational’ mortgages in this country was launched. But are they a good idea?

"There are some things I would like to have inherited from my parents," says Antonia Senior in The Times, "but a huge great mortgage is not one of them."

Last week, the Kent Reliance Building Society launched the first inter-generational' mortgage in this country, an interest-only mortgage whose capital sum remains unpaid until the death of the mortgagee. When that happens, their children can decide on whether to take on the mortgage or

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Jody Clarke

Jody studied at the University of Limerick and was a senior writer for MoneyWeek. Jody is experienced in interviewing, for example digging into the lives of an ex-M15 agent and quirky business owners who have made millions. Jody’s other areas of expertise include advice on funds, stocks and house prices.