The government is planning to introduce steps to encourage mortgage lenders to offer fixed rate mortgages over longer periods to help solve the current housing crisis.

In an interview with the Guardian Newspaper, the new chancellor Alistair Darling said the new proposals would be a key to solving the problem the UK property market is currently faced with. This comment comes three years after Gordon Brown launched his review into the UK's mortgage buying habits.

This review stated that the proliferation of short-term cheap deals was one of the reasons behind the "boom-bust" cycle in the property industry. Given the most recent rise in interest rates - to 5.75% last week - this is especially pertinent at the moment. There has been concern among consumer groups that the latest rise is going to push many homeowners to their financial limits and end the dream of home ownership for others.

Longer term fixed rate mortgages could give those wanting to buy a property an insulation against interest rate fluctuations by fixing repayments for up to 25 year periods - at present mortgages of this type only account for 5% of UK home loans. Long term mortgages were found to be unpopular in the UK due to the availability of discounted variable-rate deals which appear to be better value at first glance - a low initial debt is often the focus for those who are buying property.

In the next 18 months it is estimated that around 2 million people will have their fixed-rate mortgages expire and revert to high variable rates - so many more homeowners will be feeling the pinch soon.