23 Feb

Chelsea in new fixed-rate deal

Chelsea in new fixed-rate deal

Chelsea Building Society has announced that it is launching a new ten-year fixed-rate mortgage product.

The lender is offering a new deal at a rate of 4.59 per cent, which will remain in place until April 2019 before reverting to the standard variable rate.

It is available for amounts ranging from between £60,000 and £500,000, with a maximum loan-to-value of 65 per cent and an arrangement fee of £995.

Mortgage product manager at Chelsea Andy Paddock remarked: "This deal gives borrowers the security of locking into current low interest rates for a ten- year period."

Earlier this week Woolwich announced that it was dropping the cost of its two-year fix and track mortgages by 0.5 per cent.

These will now be charged at 3.89 per cent before reverting to a tracker rate starting at 1.49 per cent.

It also launched new four-year deals aimed at first-time buyers, with rates at 4.99 per cent for a 20 per cent deposit and 3.99 per cent for a 40 per cent payment.

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.