Scared first time buyer

Hello. So me and my partner both have recently started careers making a combined salary of £60,000. We are looking at a property valued at £270,000 with a £20,000 deposit.

This will be our first property but the thought of a 40 year mortgage has terrified my parents and subsequently, myself. Is this simply the way things are now due to the housing crisis? Or is a 40 year mortgage really going to be a horrible looming cloud later in life which I’ll regret daily and therefore should wait until a larger deposit is saved?

Thank you in advance, a nervous, nervous person.