Increase in ten-year fixed rate deals coming to the market

With ten-year fixed rate mortgages historically proving unpopular due in main to their poor value, there appears to have been a sudden surge in more ten-year offers hitting the mortgage market. At this time last year only eight ten-year deals were available, but as of today there are over 70. In addition to this the rates are continuing to fall, with the average rate dropping from 4.98% to 4.17%.

Whilst the interest rate will continue to be a hot topic in the run up to the general election, it is interesting to see the availability of longer terms fixed rate mortgages increasing.