New Mortgage - bank only offering 30 year term

Hi
I am in the process of purchasing a house and the bank will only offer me a 30 year term. I could comfortably afford a twenty year term, or even a 15 year term. The 30 year term would cost me an extra 90K in interest over the term of the loan.
What are my options? Should I:
1. take the 30 year term & try to re-mortgage in 2 years at end of fixed rate term?
2. take the 30 year term & save the extra I would have been paying on the mortgage into a high interest saving account?
3. Any other suggestions?

Thanks

3. Work out how much it would cost over the shorter term and overpay each month to bring it up to that amount.

www.moneybackmortgages.ie

Thanks for your reply. Can I overpay if I am on a fixed rate?

Generally no, but some lenders will allow you to pay a limited amount every month e.g €65.
Check your loan offer.

tugwell said:

Thanks for your reply. Can I overpay if I am on a fixed rate?

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You should be able to do that if it is agreed at the start as to the amount of overpayment. I do that by about €50 per month in comparison to the contractual amount to the original term.

Why is the lender only allowing you to pay back over 30yrs when you can afford to pay it back in half that time?

I recently took out a mortgage and the bank allowed a 15yr term. Basically they were of the opinion that whatever suited me best should be chosen. Of course you will probably be on a variable mortgage, which can take overpayments at any time if you so wish.