When researching home loans, a feature you will need to consider is the term of the loan, as it can have a huge impact on repayments and the cost of the loan over time.
For instance, a 30-year loan will usually mean the monthly repayments are smaller compared with the same loan with a 20-year term, as you have an extra 10 years to pay it off. Then again, you will be paying interest during those extra 10 years, which could add thousands on to the final cost of your mortgage.
