Long Term Fixed Rate Mortgage

Long Term Fixed Rate Mortgage Deals

The best long-term fixed rate mortgages available to you will depend on how much you want to borrow, your credit rating, exactly how long you want to spend paying it back, and the deposit you have.  

A long term fixed rate mortgage tends to work in the following way:

• The interest rate on a fixed rate mortgage would be guaranteed to be of a certain amount for a designated term
• The fixed rate period on a long term fixed rate mortgage could be anything from five or 10 years years to the lifetime of the mortgage

Many different banks and building societies could be willing to offer you a quote for a long term fixed rate mortgage, so it is highly recommended that you compare a variety of mortgage deals to assess what could be available to you.

Our mortgage comparison tables contain details of a number of different current mortgage deals to help you see what's on offer. If you are looking for long term fixed rate mortgages, see the table below to find some of the latest deals.

For most people, a long term fixed rate mortgage could have a number of pros and cons. These may include the following:

Pros

• A guarantee that your interest rate will remain the same for a considerable amount of time
• The ability to make long term budgets as you will know how much your mortgage payments will be each month

Cons

• A long term fixed rate mortgage can involve a certain amount of risk in terms of interest rates; if the Bank of England base interest rate were to decrease, you could be stuck paying higher interest rates
• Long term fixed rate mortgages tend to come with interest rates that may be higher than short term fixed rate mortgages or tracker mortgages