Your mortgage is likely to be your biggest financial commitment, so shopping around for the best deal is vital. We can help by comparing thousands of products from a wide variety of lenders, covering the whole of the market – so you can be confident you’re getting the right fixed-rate mortgage deal.
Your home is at risk if you do not keep up with your mortgage payments or other secured loans.
As the name suggests, a 10-year fixed-rate mortgage is a long-term loan where your interest rate and monthly repayments remain the same for ten years. This means that, whatever happens to the base rate
Fixing your rate and repayments for ten years can give you peace of mind, as it provides you with the chance to budget into the future. In fact, you’ll know exactly how much you owe your lender each month.
If you’re keen on longer-term security and want to fix your monthly payments at the same rate for a decade, then a 10-year fixed-rate mortgage may be what you’re looking for.
Before applying, it's always wise to consider the benefits and downsides of a 10-year fixed-rate mortgage. Let's take a look at each in turn.
Fixed costs – One of the most obvious benefits is that your monthly repayments will stay the same for ten years. This means that you’ll always be safe in the knowledge that, should interest rates increase significantly, your repayments won’t become unaffordable.
Beat interest-rate hikes – Long-term fixed-rate mortgages can protect you against rising interest rates. A 10-year fixed-rate mortgage could offer some peace of mind in what is an uncertain time for homebuyers.
Easier long-term budgeting – Being aware of your monthly payments can help you keep your finances in check. With a 10-year fixed-mortgage rate, you’ll know exactly how much to set aside for mortgage expenses and what you can use for other personal spending.
Fewer fees – Taking out short-term fixed deals means that you’ll have to pay an end-of-period fee more frequently. With a 10-year fixed-rate mortgage, you can expect to pay fewer fees over the decade.
More expensive than short-term deals – You may find that 10-year fixed-mortgage rates are more expensive than short-term fixed deals. This is because you’re paying for the security of locking in your rate for a significant period.
Hefty exit fees – If your circumstances change and you need to switch or pay off your mortgage, you’re likely to face a pricey early repayment charges
You’ll pay more if interest rates fall – One of the downsides of any fixed-term deal, and a 10-year one especially, is that you won’t be able to negotiate a more favourable rate if interest rates fall. Even if interest rates stay steady over the next ten years, it’s likely that you’ll realise at the end of the term that it wasn’t the cheapest option you could have gone for.
Increasingly, lenders are offering 10-year fixed rates to first time buyers, offering them peace of mind in the long term. Rates offered are usually comparable to two and five-year deals. Rates vary depending on your loan to value ratio.
Buy-to-let investors may choose a 10-year fixed rate to secure predictable mortgage costs over the long term. While these mortgages often require a higher deposit, they can offer reassurance and make long-term financial planning easier, particularly in a changing rental market.
If you’re remortgaging and looking to lock in certainty, a 10-year fixed-rate mortgage could be a good fit. It reduces exposure to interest rate fluctuations and removes the need to regularly review or switch deals, which can be appealing if you expect rates to rise or remain unpredictable.
A 10-year fixed-rate mortgage is generally best suited to homeowners who plan to stay in their property long term. It offers extended payment stability, but early repayment charges
New mortgage rates are introduced constantly, sometimes daily, so do take the time to compare rates across the market to see what might be available. Once you’ve found a deal that you like, it’s a good idea to engage the services of a mortgage adviser, who will be able to handle your application and speak directly with lenders on your behalf. Their fees come from the lender themselves, meaning their services won’t cost you a penny.
Tell us whether you’re looking to buy or remortgage and whether you’ll use the property to live in or rent out to tenants
Let us know an estimate of the property value, your deposit, the length of your desired term, and how you want to repay
We sift through mortgage deals from our leading panel of providers. This way, you can see what's on offer and make an informed choice
With modest house price growth expected and certainly not a boom, the 10 year fix might suit you if you are planning to stay put for the longer term and avoid refinancing risk through a choppy jobs market. This isn’t likely to suit most people.
Ashton Berkhauer Home & Utilities Expert
Ready to see what’s out there?
At MoneySuperMarket, we compare mortgage products from over 90 lenders to bring you the best deals on the market. Just tell us a bit about yourself, your plans, and your property, and we’ll help you find the best solution for your pockets and needs.
MoneySuperMarket has won the Feefo Platinum Trusted Service Award, an independent seal of excellence, which recognises businesses that consistently deliver a world-class customer experience.
No, not necessarily. If you’re thinking about taking out a 10-year fixed-rate mortgage, you can rest assured that there are many options that allow you to get it with a reasonable deposit.
That said, you’ll always find more favourable deals when you pay a bigger deposit. In fact, a larger deposit can bring your interest payments down.
Yes, you can. If you’re ready to pay off your 10-year fixed-mortgage period, whether that's because you have the finances or simply need to, you're free to do so.
Bear in mind, though, that you’ll have to pay an early repayment charge (ERC). This fee can amount to thousands of pounds. Each lender will have their own rules and policies, but most mortgage providers will allow you to overpay 10% of the outstanding debt every year.
At the end of your 10-year fixed-mortgage deal, you should generally be able to take out a new fixed-rate or variable-rate plan without being charged.
If you don’t do that, you’ll be moved onto the lender’s standard variable rate (SVR). The SVR tends to be higher than a fixed rate, so you may want to consider remortgaging before the SVR kicks in.
Getting a mortgage when you’re self-employed may prove to be a bit more challenging, as you don’t usually take home a secure, fixed annual salary. That said, though, you should still be able to gain access to the same mortgage deals as anyone else, including a 10-year fixed-mortgage.
There is a chance that lenders will expect you to have been in the trade for three years before they’ll consider your application. What’s more, you will probably need to show them two or three years’ worth of accounts and income.
Again, when applying for a mortgage, lenders will need to check your credit score and history. This way, they’ll be able to determine whether you're likely to be a reliable borrower.
There is no hiding that people with a bad credit score may find it trickier to get a mortgage. But this doesn’t mean that you can’t or won’t be able to get one. You may be asked, however, to put down a bigger deposit and pay higher interest rates.
With MoneySuperMarket, you can scour the mortgage market and find the best deal for you regardless of the circumstances.
You work hard to earn your money, and we don’t think you should waste a penny of it paying over the odds on your household bills. That’s why at MoneySuperMarket, we’re on a mission to save Britain money.
Whip your credit score into shape with Credit Score
Super save over and over again with Energy Monitor
There are always more ways to save with MoneySuperMarket
So how do we make our money? In a nutshell, when you use us to buy something, we get a reward from the company you’re buying from.
You might be wondering if we work with all the companies in the market, or if our commercial relationships with our partners might make us feature one company above another. We’ve got nothing to hide, and we want to give you clear answers when it comes to questions like these, so we’ve pulled together everything you need to know on this page.
Reviewed on 23 Jan 2026 by
An early repayment charge (ERC) is a fee for ending a mortgage deal before the term ends. Typical ERCs range between 1% and 5% of the remaining loan amount if you want to end it early.
ERCs often also apply if you attempt to pay back more than 10% of the outstanding loan amount in a single year.
Find out more in the MoneySavingExpert guide to early repayment charges.
The base rate or 'Bank Rate' is the official interest rate set by the Bank of England that guides commercial lenders and banks.
The base rate is currently 3.75%.
