UK homebuyers offered first 40-year fixed-rate mortgage

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Habito will let borrowers with a 10% deposit pay loan back at 5.55% over up to four decades

Borrowers are being given the chance to lock their mortgage repayments at the same level for up to 40 years with the launch of the longest fixed-rate deal on the market.

The lender Habito plans to launch a range of mortgages for borrowers with a 10% deposit that offers fixed-rate terms of up to four decades. The rates are based on the size of the deposit and how long the borrower wants to repay their mortgage.

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