Compare 10 Year Fixed Rate Mortgages

If you want to fix your mortgage repayments for a long period, 10 Year Fixed Rate products represent a possible option. These mortgages will provide the peace of mind of static repayments for the first decade of homeownership, regardless of interest rate fluctuations.

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Think carefully about securing debt against your home. Your home may be repossessed if you do not keep up repayments on your mortgage

Last updated on 25 November 2021.

10 Year Fixed-Rate Mortgages FAQ

What is a 10-year fixed rate mortgage?

A typical 10-year fixed rate mortgage allows borrowers to take out a mortgage where interest is fixed for an entire decade before reverting to a variable rate of interest.

Why do people seek fixed rate deals?

Fixed rate mortgages are often ideal for those just starting to climb the housing ladder and who might have tighter cash flow. Fixing interest for a number of years keeps rates stable, making the cost of monthly repayments easier to predict.

Is a 10-year fixed rate higher than a 5-year one?

Yes. Fixing rates for longer periods of time entails greater risk to the provider, so they will be inclined to charge a higher rate of interest to mitigate that.

Are there additional costs to consider?

Yes. Some providers waive certain fees, but others will charge admin and valuation fees on properties, highlighting the importance of always checking terms and conditions, as providers have different requirements.

How do I find the best 10-year fixed rate mortgages?

NerdWallet provides comparisons for 10-year fixed rate mortgages. We offer this service to consumers so they can determine which mortgages of this variety have the most affordable rates, valuable incentives and best deals.

What incentives do providers offer?

Incentives can include one-off cash injections early on from your provider, in the form of cashback. This lump sum is paid for using interest you have already paid, helping boost cash flow should you require it.

Can I start paying my mortgage off more quickly?

Some providers offer sizeable overpayment allowances, so you can repay your mortgage ahead of time, to a certain extent, which can vary depending on the provider. This reduces future payments, saving you money.

What is an early repayment charge?

Early repayment charges are penalties charged by providers when you overpay beyond the limits set by your provider. The rate of an ERC depends on the provider, so always check terms and conditions before applying.

What is APRC?

On any mortgage product, the annual percentage rate of charge helps determine the overall cost. This metric factors in interest as well as additional fees and charges, allowing you to make an easy comparison between various mortgage deals.

Can I fix a new rate when one term ends?

Yes. You may wish to renew a fixed term in order to keep interest payments stable over time. The process of fixing a new rate with your existing lender doesn’t take much time, allowing you to continue with a repayment plan that best suits your needs.

Why might I consider a fixed-rate deal for as long as a decade?

All customers apply for mortgages under different circumstances, with widely differing requirements. If you suspect that cash flow is tighter and you’re looking for ways to spread out the cost or freeze interest at an affordable rate for longer, a 10-year fixed rate could prove more affordable.

NerdWallet has selected Koodoo to provide you with this information-only online comparison service on a non-advised basis. NerdWallet will receive a share of the commission that Koodoo earns from the lender or from our partnered broker, Fluent Mortgages.

Koodoo is the trading name of Mortgage Power Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 845978), and is a registered company in England and Wales (company registration number 10978680), with a registered address at Scale Space, 58 Wood Lane, London, W12 7RZ

Fluent Mortgages Ltd is authorised and regulated by the Financial Conduct Authority (FRN 458914), and is a registered company in England and Wales (company registration number 10978680), with a registered address at 102 Rivington House, Chorley, New Road, Horwich, Bolton, BL6 5UE