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Borrowers are to get the chance to fix their mortgage rate for 30 years at less than three per cent, The Mail on Sunday can reveal.

Specialist lender Kensington Mortgages will this week launch fixed-rate deals on home loans that last for 25 and 30 years.

The long-term deals are among the first of their kind.

Most homeowners who take out fixed-rate mortgages lock into a two or five-year deal.

Ten-year fixes are available but few customers opt for them, according to industry experts.