This homebuying feature is growing in Australia. But there's a $275k catch
Australian lenders are increasingly offering 40-year mortgages, including AMP, according to SBS News. Canstar’s Sally Tindall said the longer term can cut monthly repayments but increases total interest. Canstar analysis cited a $600,000 example adding about $275,000 in extra interest. Risks include limited refinance options and potentially less competitive rates.


