Compare our top 10-year fixed-rate mortgages

Find a 10-year fixed rate mortgage that is right for you

Property price

£

Mortgage amount

£

66% LTV

Mortgage term

years

Initial rate type

Deal length

Repayment type

We've found 29 mortgage deals

Coventry Building Society

10 Year Fixed

Initial rate

2.59%

until 30-09-2029

APRC

3.4%

overall cost for comparison

Set-up fees

£999

Monthly payment

£770.38

for 120 months

TSB

10 Year Fixed

Initial rate

2.79%

until 31-08-2029

APRC

3.3%

overall cost for comparison

Set-up fees

£0

Monthly payment

£787.71

for 120 months

Virgin Money

10 Year Fixed

Initial rate

2.79%

until 01-09-2029

APRC

3.5%

overall cost for comparison

Set-up fees

£995

Monthly payment

£787.71

for 120 months

Virgin Money

10 Year Fixed

Initial rate

2.79%

until 01-09-2029

APRC

3.5%

overall cost for comparison

Set-up fees

£995

Monthly payment

£787.71

for 120 months

TSB

10 Year Fixed

Initial rate

2.79%

until 31-08-2029

APRC

3.3%

overall cost for comparison

Set-up fees

£0

Monthly payment

£787.71

for 120 months

TSB

10 Year Fixed

Initial rate

2.84%

until 31-08-2029

APRC

3.3%

overall cost for comparison

Set-up fees

£0

Monthly payment

£792.08

for 120 months

TSB

10 Year Fixed

Initial rate

2.84%

until 31-08-2029

APRC

3.3%

overall cost for comparison

Set-up fees

£0

Monthly payment

£792.08

for 120 months

TSB

10 Year Fixed

Initial rate

2.84%

until 31-08-2029

APRC

3.3%

overall cost for comparison

Set-up fees

£0

Monthly payment

£792.08

for 120 months

Existing current account customers only

TSB

10 Year Fixed

Initial rate

2.84%

until 31-08-2029

APRC

3.3%

overall cost for comparison

Set-up fees

£0

Monthly payment

£792.08

for 120 months

TSB

10 Year Fixed

Initial rate

2.84%

until 31-08-2029

APRC

3.2%

overall cost for comparison

Set-up fees

£0

Monthly payment

£792.08

for 120 months

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Representative example:

If you borrowed £200,000 payable over 25 years, with an initial fixed-rate for two years at 4.79%, your monthly payments would be £1,144.84 for 24 months. This would then revert to a standard variable rate (SVR) of 4.24% for the remaining 23 years, costing £1,086.24 per month for 276 months. Overall cost for comparison is 4.5% APRC representative. The total amount payable over the full term would be £328,272, including product fee of £995 and interest of £127,277.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Why get a 10 year fixed rate mortgage?

10-year fixed rate mortgages are the ultimate in financial security: no matter what happens to the Bank of England’s base rate, or your lender’s standard variable rate (SVR), your mortgage repayments will not change for 10 years.

In exchange for that security, though, the interest rate on a 10-year fixed rate mortgage will be a lot higher than a discount rate or shorter fixed rate mortgage. For example, the interest rate on a two-year fixed rate mortgage in June 2019 is around 1.6%; if you want a fixed rate for 10 years, the interest rate is closer to 2.8%. On a mortgage of £200,000 repaid over 25 years, the monthly repayments at 1.6% are £809; at 2.8% it’s £928. That's an extra £1,428 in mortgage repayments every year.

Calculate your monthly mortgage repayments

10-year fixed rate mortgages are currently the longest fixed rate periods offered by banks and building societies in the UK.

Another popular option is the five-year fixed-rate mortgage, which offers a good balance of security and monthly repayment cost.

Can you get a 10 year fixed rate mortgage?

There aren’t any particularly gnarly eligibility criteria for a 10-year fixed rate mortgage. The only real thing to bear in mind is that the best interest rates will only be available if you have a large deposit (usually 30%, or an LTV of 70%).

Locked in for 10 years

Because you’ll be locked into the same interest rate for 10 years, you should try to get the lowest interest rate possible.

Think very carefully about trying to exit a 10-year fixed rate mortgage, too. Unlike shorter fixed-rate deals, where the penalty for early repayment is quite small (2 to 3%), the early repayment charge on a 10-year fixed rate mortgage is usually between 5 and 10%. If you have a mortgage of £400,000 this would be a major chunk of change – £20,000 to £40,000.

Unless you think that interest rates will rise dramatically over the next few years, a shorter fixed rate mortgage deal might be more sensible.

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Last updated: 12 June, 2019

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