Taking out a 10-year fixed rate mortgage could save you over £3500 – What Mortgage

Borrowers can shave thousands off their mortgages by taking advantage of low rates on long term fixed loans. Rates have nosedived over the last year resulting in a mortgage with a fixed rate for the first ten years being £3595 cheaper. Long term loans are cheaper now than two or three year loans were just a few years ago. An expert said these loans insulated borrowers from future rate hikes and gave them peace of mind.

Key Takeaways:

  • As a result of average rates plummeting from 3.36% to 2.98%, the cost of a 10-year fixed rate mortgages has fallen by £3,595 for the average borrower over the last year.
  • Fixed rate mortgages offer financial security to mortgage borrowers and can shield them from economic uncertainty.
  • The cost of a 10-year fix is starting to rise after years of falling rates, according to research from financial website Moneyfacts.co.uk.

“Falling rates on long-term fixed rate products mean borrowers could cut over £3,500 off their mortgage, new research shows.”


Now that you've read this are you interested in talking to a mortgage adviser? Fill out the quick form below and you'll be contacted soon by an independent, regulated mortgage specialist for a free no obligation quote.

You can save between £6,000
and £15,000 on your Mortgage

Get a custom rate and see how much you will save
by filling out the quick form below.

Value of Property
Borrow How Much
Type of Mortgage:
Bad Credit History?
Yes No