Brits who are looking to move into a new home and do some redecorating with tile adhesive may be increasingly likely to consider long-term mortgage options.
Editor of What Mortgage magazine Ben Wilkie stated short-term deals have become less attractive in the past year or two.
He explained this is because they can be a gamble in terms of interest rates, as the individual could be in a better position if they rise.
The security of a fixed deal was described as being one of the reasons this is a desirable option for many.
"It is not so much about whether [lenders] offer them or not; it is about whether they push them. If people don't know they exist, then there is no demand for them," Mr Wilkie remarked.
Indeed, Norwich and Peterborough Building Society recently announced a ten-year fixed-rate mortgage, which is the lowest ever on the market, with other providers expected to follow suit.
