fixed term mortgages

[Raz]

To all mortgage experts (and those who know more about mortgages than I do)!

I’ve a fairly basic question – can someone take out a 10-year mortgage on a 10 year fixed deal? If I were to take out say £150k for 10 years and lock it in a 10 year fixed mortgage deal would this be allowed? I realise payments would be somewhat high (~£1400 per month according to Barclays, plus CT and insurance would probably make it around 1700 per month) but it would obviously give certainty on monthly expenses for the whole term and get rid of the mortgage fairly quickly. Is this even allowed?

Also aware that there are many advantages and disadvantages to being locked into a 10 year deal…

 

[Raz]

Penalties would be the main reason but tis a small mortgage so might not be important.

they do seem quite a high %.

Anyway, the thing is that while it would be far cheaper monthly to say get a 20 or 25 year mortgage I'm more interested in getting rid of it as fast as possible - and if that means paying extra per month then so be it.

I just wonder if it's possible to do something like this (i.e. 10 year mortgage and a 10 year fixed deal so you know exactly what you pay over the life of the mortgage)