You guys are moving the goal posts. He said you can't do it, now you say it's not as cheap. That's with hindsight of where the interest rates went. If they had gone up it would have been a good deal.
The cost is the whole point. Any 30-year mortgage that might be on offer in the UK (turns out, actually none at all available to the average homebuyer) would be a far worse deal, even given the interest rate changes we've seen.
