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Re:Mortgages are a manufactured product by cornel_io on Saturday January 15, 2022 @10:12AM (#29946892)
So what do people in Australia do when they move and have to sell their house, which will happen a lot before the 30 years is up? Are the buyers stuck with the exact same terms that the original purchasers set on the remaining principal, and then have to enter a separate mortgage for the part that's already paid off?

Or do there tend to be clauses that allow full repayment on transfer of ownership or something like that?

Re:Mortgages are a manufactured product by JimTheMan on Wednesday January 19, 2022 @03:08AM (#29991110)
We generally can't get fixed term mortgages that are greater than 3 years.

Most of us have variable mortgages with less conditions placed upon them.