By Lorna Bourke

LONDON (Citywire) - Good news for homebuyers looking for long term stability and security. The number of long-term fixed rate mortgages on offer has doubled, offering much wider choice as borrowers make the flight to safety in the face of rising inflation.

According to MoneyExpert.com which monitors financial products, the percentage of mortgages fixed for 10 years or more has risen from 8 percent of products in July 2007 to 15 percent today. And its analysis shows that there are now 18 different 25-year fixed rate deals on offer from five different providers, compared with nine this time last year.

Long term fixes look relatively attractive. MoneyExpert.com says that the average initial rate payable on a 25-year fixed rate mortgage is 6.56 percent, some 0.3 percent lower than the current market average for all mortgages of 6.9 percent.

"The credit crunch has prompted a flight to safety by borrowers who have been stung by dramatic rises in the rates on short-term deals," commented Sean Gardner, director of MoneyExpert.com. "At the same time lenders are increasingly keen on signing customers up to long-term deals which offer them certainty."

They are also keen on locking in customers as it is always more expensive to attract new business than to hang onto existing clients.

So should you opt for a longer term fixed rate in the face of increasing uncertainty?

Given the prediction of the Crosby report, that the mortgage market is not likely to return to normality for some two years or more, it seems unlikely that fixed rates will drop below 5 percent in the foreseeable future.

During the boom years of 2003 to 2007 lenders were advancing money at below the Bank of England base rate in order to attract business. These were loss-leader loans and in today's climate, lenders are unlikely to do this again.