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Financial Services > Mortgages > Fixed Rate Mortgages > Long term fixed rate mortgages
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What is a long-term fixed-rate mortgage?

In other countries, it is quite common to have a fixed rate for the whole term of the mortgage. However, in the UK such long-term fixed rate deals have not caught on.

The previous government was keen on 25 year fixed rates being introduced, but the homebuying public is not keen and currently, there are no mainstream lenders offering 25 year fixed rates.

There are however a couple of 10 year fixed rate deals. The advantage of fixing for such a long period is that you avoid any upward movements in base rate.

The downsides are that you are trapped into a rate by high penalty charges so you can't get out if you want to and also that variable rates currently on offer are better than those offered on long-term fixed rates.

How do I find the right mortgage deal for me?

For more information about mortgage deals currently on offer, use our mortgage enquiry form below and get free advice from a specialist mortgage advisor.

 
 
Lender Initial Rate Duration Standard Rate Overall Cost For Comparison Max Loan To Value Fee
  • Santander Direct Trackers

1.95% 2 years 4.24% 4% APR 60% £1,995
  • Skipton BS Purchase Tracker

1.98% 2 years 4.95% 4.8% APR 60% £1,995
  • Chelsea BS

1.99% To Nov 2013 5.79% 5.4% APR 70% £1,495
  • First Direct Repayment BRT

2.09% 2 years 3.69% 3.5% APR 65% £1,499
  • Skipton BS Remortgage Tracker

2.28% 2 years 4.95% 4.8% APR 60% £995
  • Yorkshire BS

2.29% To Nov 2013 4.99% 4.7% APR 75% £995
  • Market Harborough BS

2.48% 2 years 5.49% 5% APR 75% £845
  • ING Direct

2.49% term 3.5% 2.5% APR 60% £945
  • Woolwich (Barclays) Tracker

2.58% Term 3.49% 2.6% APR 70% £999

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