Loan term refers to the total life of the loan. A 10 year term would mean you could pay off the loan in 10 years through making minimum payments.
Are you referring to an adjustable rate mortgage (ARM)? That’s what’s they’re called in the USA. ARMs haven’t made a lot of sense in most cases as of late.
What does lending look like there? Do you all do 30 year mortgages too? Do you have an option for a fixed rate mortgage?
Mateng