More deals and lower interest rates for borrowers seeking 10-year mortgages


Borrowers looking to secure a fixed-rate mortgage for the next decade will benefit from the intense competition between lenders in the 10-year fixed rate sector. 

According to the latest research from, competition within the 10-year fixed-rate sector is at its highest level for over 10 years, with more deals available to borrowers than since Moneyfacts electronic records began in 2007.

Homeowners looking at 10-year fixed-rate mortgages last August had 139 deals to choose from at an average rate of 3.10%. Currently, borrowers have the choice of more than 157 10-year fixed rate deals, with an average rate of 3.01%.

The extraordinary competition between lenders in this sector is driven by demand from homeowners looking to protect themselves from future fluctuations in interest rates, and for some reassurance during this time of economic uncertainty.

Lowest rate in the 10-year fix sector

Newcastle Building Society has just announced the launch of two 10-year fixed-rate mortgage products. Their offer of a 90% loan-to-value (LTV) fixed at 2.89% is, according to Moneyfacts, the lowest rate in the 10-year fix sector with a 90% LTV. The lender is also offering an 80% LTV fixed at 2.85%, plus both products permit early repayment after five years without a penalty.

Data from the Bank of England shows that 92% of all new mortgages taken at the start of this year were for fixed-rates and that the number of borrowers locking themselves into longer-term deals is on the rise.

Rachel Springall, finance expert at, said: “A decade-long fixed-rate mortgage is no doubt a big commitment, so borrowers must feel confident that their circumstances are unlikely to change to avoid the expense of refinancing earlier than expected.

“There is a much larger choice of mortgages within the five-year fixed market, and these should ideally be considered as an alternative.”

“As with any mortgage, it is important that borrowers weigh up the overall true cost of any deal and make every attempt to overpay their mortgage to reduce the amount they owe – especially if they lock into a low rate.”

Highgrove Mews

High Net Yield Freehold Houses

  • Commutable to London (27 mins to central Paddington station)
  • Rental demand extremely strong with large industry presence in Reading
  • Freehold with 4% net yield

£284,955 - £457,000

St Petersgate – Stockport Manchester

New Launch - Stockport Manchester, apartments from £160,000

  • Discounted launch prices from £160,000
  • Excellent transport links with 3 trains per hour to London Euston and only 9 mins journey to Manchester Piccadilly
  • Experienced development team

Assured Rent Housing Association Leases

Assured Rent Housing Association Leases

  • Assured rent & no rental voids
  • Tenant damage cover & newly refurbished inline with requirements of a corporate sitting tenant
  • Free property and lettings management

From £62,000

Emerging Birmingham Commuter Town With Properties From Just £104,000

The emerging Birmingham commuter town where properties are selling in an average of just 24 days

  • A collection of 62 two bedroom apartments and 28 one bedroom apartments.
  • DE14 is one of the fastest selling postcodes in the West Midlands.
  • 23 minute train journey into Birmingham New Street Station.

Properties from £104,000

Mill, Stockport

The Northwest's emerging property hotspot

  • Discounted off-plan 2-bed prices from £162,000
  • Completion date - Q4 2021
  • Rental yields - 6% plus

Discounted off-plan 2-bed prices from £162,000

South Central – Birmingham City Centre Apartments

Highly anticipated 28 storey launch in Birmingham City Centre with an impressive roof garden and communal facilities.

  • 154 units across 28 storeys
  • Residential multi-media community room, gym, roof garden and sky cinema
  • Excellent future connectivity via the metro system to other key transport hubs and locations around the city

from £205,800


Talk to us

Speak to our UK property experts today: 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

+852 9865 4446

Open from 9am-6pm HKT

Stamp Duty Calculator


Unlock members only investment opportunities and full development details. Join now – it’s free, quick and easy.


Not a member? Sign up for free

More deals and lower interest rates for borrowers seeking 10-year mortgages


By submitting your details via this online form you agree to be contacted via email/phone/SMS by Direct Marketplace Ltd t/a BuyAssociation in relation to property investment and property developments . We do not share your personal details with third parties.  To view our full Privacy Policy click here.