Homebuyers offered 40-year fixed-rate mortgage by UK lender

Launch by Kensington Mortgages comes amid expectations that era of ultra-low interest rates will end

A mortgage offering fixed monthly payments for 40 years was launched this week – and it could mean that some homebuyers will be able to borrow more money than with a standard deal.

The Flexi Fixed for Term deal from Kensington Mortgages allows borrowers to fix their interest rate for the full term of the loan, which can be set anywhere between 11 and 40 years.

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