Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
20-year, 25-year, 30-year and 40-year fixed rate mortgages
Its extremely rare to find a long term fixed rate mortgage in the UK above 15 years, but there are some long-term options.
A long term fixed rate mortgage may seem like a good idea if you’re settled in your home and don’t fancy dealing with interest rate fluctuations.
Unfortunately, there are no lenders in the UK offering fixed-rate mortgages for this long.
Nevertheless, there’s a growing range of 10-year fixed rate mortgages being made available. Those looking for a long-term fix might therefore want to consider locking down your interest for a decade.
Compare all your options, as some providers require a deposit of up to 50% for long-term fixed rate mortgages.
How do fixed rate mortgages work?
With a fixed rate mortgage, the interest rate you pay is locked over the duration of the fixed term. It means there’s no confusion surrounding what your monthly repayments will be over the length of the fixed term. This makes it easier to manage your household budget and save for larger long-term purchases. With other types of mortgage, such as tracker mortgages, the rate will fluctuate based on the Bank of England (BoE) base rate.
Frequently asked questions about fixed rate mortgages
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.
More guides on Finder
-
Getting a 5% deposit mortgage under the government’s new guarantee scheme
Learn more about the new government scheme that will allow first-time buyers and home movers to get on the property ladder.
-
Loans for small businesses affected by coronavirus
Learn about government support and alternative options for businesses needing finance to help deal with the impact of coronavirus.
-
Interactive Brokers review
Find out what we thought of Interactive Brokers, some key features, information about its platforms and how much Interactive Brokers costs.
-
Compare bridging loan rates for property development
Everything you need to know about the benefits of using a bridging loan to fund a property development project if you don’t have the cash already available.
-
Compare residential bridging loan rates
Everything you need to know about residential bridging loans, including what to consider before taking one out, what they can be used for and their pros and cons.
-
Auction finance: Compare bridging loan rates
Everything you need to know about auction finance, including why it can be a good alternative to a mortgage, its downsides and where to go to get the best deal.
-
Compare 10-year loans
Find out how to apply for a 10-year personal loan, and how to get the best rates.
-
Equity release calculator
Find out the value of your property, and how much you could borrow, with our free equity release calculator.
-
Mortgages for students: Buy-for-uni
Discover how you can use buy-for-university mortgages to buy property as a student.
-
Compare the best business credit cards of 2021
Saving time on expense reports and streamlining your cash flow are just a couple of the many perks you could enjoy with a business credit card. Compare interest rates and check your eligibility today.
Ask an Expert