Credit will be secured by a mortgage on your property. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. Written quotations are available from individual lenders. Loans are subject to status and valuation and are not available to persons under the age of 18. All rates are subject to change without notice. Please check all rates and terms with your lender or financial adviser before undertaking any borrowing.Quick Links
Quick links are where we have an arrangement with a provider so you can move directly from our site to theirs to view more information and apply for a product. We also use quick links where we have an arrangement with a preferred broker to move you directly to their site. Depending on the arrangement we may receive a modest commission either when you press a 'Go to Provider' or 'Speak to an Adviser' button, when you call an advertised number or when you complete an application.
BALANCED. Moneyfacts.co.uk is entirely independent and authorised by the Financial Conduct Authority for mortgage, credit and insurance products.
FREE. There is no cost to you. Our service is entirely free and you don't need to share any personal data to access our comparison tables.
TRANSPARENT. We only receive payment from product providers and intermediaries for quick/direct links and adverts through to their websites.
COMPREHENSIVE. We research the whole market and scour the small print so you can find the best products for your needs.
A guide to mortgage valuations - what they are and what aren't.
Looking for ideas about paying off your mortgage? Our helpful guide gives you the answers
Our guide to the different types of income you can use when applying for a mortgage.
Is offsetting your mortgage a good idea? Find out the whys and wherefores in our easy guide.
Our guide explains what LTV (Loan To Value) is and how it will affect what type of mortgage you can get
Our guide to the different fees you may encounter when applying for a mortgage.
10-year fixed rate mortgages ‘freeze’ your mortgage repayments at a set figure for 10 years. This is popular with people who like to know exactly what they will be paying for their mortgage over a longer period, enabling them to budget effectively. The only drawback can be that if interest rates drop during the term of your mortgage then you may find yourself paying more than if you had been on a variable rate or shorter-term deal.
The answer to this very much depends on both your own circumstances and what is likely to happen to interest rates over the next decade. 10 years is a long time and, as yet, no-one has managed to successfully predict with 100% accuracy what will happen to interest rates over such a long period of time.
The only solution is to make a judgement call based on what is good for you. Having fixed mortgage payments for a long-time gives you a great deal of certainty on what you’ll be paying – if this suits your personal circumstances then you probably think this outweighs the possibility that rates will drop even further.
If you are uncertain then you might want to consider locking your rate in for a lesser period, like five years, instead of the full 10. Of course, shorter-periods, such as two-year or three-year fixed terms, are also available.
When deciding about a 10 year fixed rate mortgage make sure you consider all the factors of the deal being offered, such as the incentive package or things like the ability to take payment holidays, that can give you extra flexibility