Savvy homeowners are locking into competitive fixed-rate deals for longer periods to ensure their repayments stay affordable.
And increased competition among lenders to secure their business means those willing to sign up to a 10-year fixed-rate deal can get the best deal for their finances.
Securing repayments for decade
Research by comparison site moneyfacts.co.uk has revealed more 10-year details available since it started logging those on the market in 2007.
According to its data, there are now 157 10-year fixed-rate mortgages on offer across UK lenders, with the average borrowing rate down from August 2018's 3.10 percent to 3.01 percent in August 2019.
Any homeowner looking to ensure their finances are stable for the next decade will be shopping around the best fixed-rate deal.
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Independent advice needed
Deciding on a 10-year deal is a big step. While it does offer security of knowing exactly what repayments are going to be, there's also the risk that interest rates could drop substantially, leaving homeowners paying well over the odds for their mortgage.
It's crucial that anyone considering a remortgage gets independent financial advice.
Safeguarding from rate fluctuation
Rachael Springall, finance expert at moneyfacts.co.uk, said: "Borrowers may well be thinking of different ways to safeguard themselves from potential rate fluctuations in the market or even for some peace of mind during a period of economic uncertainty.
"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.
"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."