20
Feb
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.
