Yes, there are lots of mortgage deals that come with an interest rate fixed for ten years.

You can apply for one if you decide it is the best type of deal for your circumstances. The mortgage provider then looks at your finances to decide if you can afford it.

How to find the best 10 year fixed rate mortgage

Use this comparison, which only includes mortgages available in the UK with a fixed interest rate that lasts for for 10 years.

Find the cheapest 10 year mortgage rates by checking:

  • The interest rate, which affects how much your payments cost for the next ten years

  • The loan to value (LTV), i.e. the percentage of the property's value the mortgage covers

  • The fees and charges that you pay to take out the mortgage

You can use these mortgage deals to buy your first home, get a remortgage or move house.

Why get a 10 year fixed mortgage?

They come with an interest rate that will not change for ten years. This means the amount you pay each month should not go up for a decade.

Even if the Bank of England base rate or your lender's standard variable rate (SVR) goes up, your mortgage payments remain the same.

This can make long term budgeting easier, especially if you would struggle to afford your monthly payment if it went up.

What are the drawbacks?

The interest rate on a 10 year mortgage often starts off higher than other interest rate types. This means you could end up with a more expensive mortgage if variable interest rates remain the same or go down.

You cannot switch to a cheaper deal until the end of the ten year term unless you pay an early repayment charge. This can be very expensive, e.g. 3% of your mortgage balance.

What other fixed rate mortgages can you get?

You could get a shorter term fixed rate mortgage if ten years is too long. You can compare all fixed mortgages here or choose a deal with a rate fixed for:

Are all mortgage rates fixed?

No, if you do not want a fixed mortgage you could choose a different type of interest rate, including:

10 year fixed rate mortgage FAQs

Q

Where can I find mortgages with shorter fixed terms?

A

You can use our fixed rate mortgages comparison, which includes deals for one, two, three, five and ten years.

Q

What happens at the end of the ten year term?

A

You then pay the lender's standard variable rate, which is usually higher. But you could switch to a new deal with a better rate.

Q

Can I pay off my mortgage before the ten year term ends?

A

Yes, but you are usually charged a fee to repay your mortgage or switch it to a new deal before the fixed rate ends.

Q

Are there ten year fixed rate buy to let mortgages?

A

Yes, some buy to let deals come with 10 year fixed rates. You can compare buy to let mortgages here.

Q

Will applying for a mortgage affect my credit rating?

A

Yes, every application for credit you make appears on your credit record, so avoid applying for several. Here is how your credit history works.

About our mortgage comparison

Q

Who do we include in this comparison?

A

We include ten year fixed rate mortgages from every lender in the UK. They are all from lenders regulated by the Financial Conduct Authority. Here is more information about how our website works.

Q

How do we make money from our comparison?

A

We have commercial agreements with some of the companies in this comparison and get paid commission if we help you take out one of their products or services. Find out more here.
You do not pay any extra and the deal you get is not affected.