Switzerland has had a 50 year mortgage term option for quite some while, which they can beqeath to their children, (house ownership doesnt have the same appeal on the continent). Its more acceptable to rent and the 50 year mortgage goes some way towards bridging the gap.

The UK government are also trying to introduce a 50 year term mortgage. That 'comment' was released earlier this year, although no offers as yet!. However two UK building societies reduced their rates this month which is given as generally positive for the sector.

Anyway the thought is there is more than one way to skin a cat, and probably more than one potential outcome allowing the worse case scenario. A reduction in income returns appears to be more positive than a reduction in assets (as far as the banks/mortgage loans are concerned).