“It may give you some stability, but you are stuck with it and at present, the long-term rates are too high compared to the variable deals on offer. Most people want to take a short-term view and look again their situation in a few years. They can remortgage much more easily if things have changed.”Borrowers have also been put off by high redemption charges some lenders have levied in exchange for the long-term security of a 25-year fixed rate. Mr Hollingworth points to the 10-year deal on the market from Britannia at 4.79 per cent. It charges 360 days’ interest at whatever the standard variable rate is at the time to customers who want to cash in.

“This can amount to thousands of pounds to some people,” Mr Hollingworth says. “These penalties can be a big hurdle.”Leeds & Holbeck and Cheshire have tried to get around some of these problems by allowing penalty-free redemption periods. Leeds & Holbeck, for example, can be redeemed after five years, then every two years after that, free of charge.Long-term fixed-rates are certainly becoming more flexible and if you think interest rates are likely to start heading up, a long term fixed rate will give you the peace of mind that you will not have to pay a penny more on your repayments. But many people are more comfortable planning their borrowings on a time scale of no more than five years ahead and are reluctant to lock themselves in for the long-term. A semi-pornographic royal seal, discovered in a field in East Anglia, is providing historians and archaeologists with vital clues to the life of one of the Dark Ages’ most bizarre celebrities. She married the King of the Franks, became a ruthless ruler and murderer, but was finally made a saint before she died.With her somewhat intimidating name – Balthild means literally “Bold Battle” in Anglo-Saxon – she has long been an enigma to scholars of Dark Age history. But the discovery, by a metal-detector enthusiast, of her royal seal matrix buried in a field in East Anglia is shedding new light on her extraordinary story.The gold seal matrix, which was originally attached to a ring, is one of the most important Dark Age artefacts ever found in Britain.

On one side is a human face with her name inscribed around it in Frankish form. On the other side are two naked figures thought to portray Balthild and her husband, the Frankish (French) king, having sex. The victorious Sigabert (whose name, aptly, means “Shining Victory”) had invaded East Anglia after spending several years at the court of the Frankish king.As a young girl, Balthild was sent to the same French royal court as a slave – perhaps as a relative of the defeated Ricberht.She joined the household of the king’s chief administrator, Erchinoald, whose unwanted sexual overtures she rapidly learnt to resist Just as well – for she soon met the French king, Clovis II. The pair appear to have fallen for each other and were married in 648.