Should you go for a ten-year fixed mortgage?

Ten-year mortgages have always been rare beasts in the UK. Most Britons have either gone for variable-rate mortgages – often linked to the base rate – or ‘fixed-rate’ deals where the rate is only fixed for two or three years.

However, other countries take a different approach. For instance, in Germany the market is split between variable-rate mortgages, medium-term fixed-rate mortgages and long-term fixed-rate mortgages. In America fixed-rate deals of 15 or 30 years are standard.

The good news is that banks have begun broadening the number of longer-term deals available in the UK. With long-term interest rates starting to [...]

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