More Taylor Wimpey customers are taking longer mortgages to make monthly repayments more affordable, providers say.
The "challenging backdrop" for customers has led to more of them extending their mortgage terms, it said.
It said the fallout from last year's mini-budget, which "stalled" the housing market, had hit Connells sales. Mortgage rates have been soaring after 13 consecutive interest rate hikes, and on Thursday the Bank of England is expected to put up rates again. Earlier this week, Halifax joined other lenders in offering customers mortgages up to the age of 75, rising from a maximum working age of 70.If you miss two or more months' repayments you are officially in arrears
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Sales fall at housebuilder Taylor Wimpey but prices 'remain resilient'More mortgage holders are extending their payment periods beyond 30 years and house reservations are down.
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Taylor Wimpey says buyers taking on longer-term mortgages\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
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