Treasury considers urging deals fixed for as long as 30-years to solve mortgage crisis

will have on homeowners, with around 1.4m mortgage deals due to expire this year, exposing them to soaring monthly costs.

But the Government is now looking at the idea as a way of providing borrowers with greater certainty over their monthly repayments, in a bid to avoid a repeat of the current crisis that will see homeowners coming to the end of their current deals paying hundreds of pounds more a month.that the proposals are being considered but added there are “no immediate plans” to start pushing for a new long-term fixed rate mortgage market.

He continued: “The constraining factor is consumer demand, and that is not a pattern of behaviour we have seen. Clearly for some mortgage holders such mortgages do offer long-term certainty, and it is certainly my objective for us to see the broadest range of choices for householders and for their own individual patterns in the market.”

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