No, the rate on your mortgage is fixed for two or five years — after that, you’ll go onto a floating rate. At which point you should remortgage into another fix

No, the rate on your mortgage is fixed for two or five years — after that, you’ll go onto a floating rate. At which point you should remortgage into another fixed rate, but enough people suffer from inertia that they don’t. I hear people getting on the housing ladder today are generally getting 30 year mortgages.