Chelsea launches 10-year fix at 3.99%
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Chelsea Building Society has launched a 10-year fixed rate mortgage at 3.99% and made cuts to its five, six and seven-year mortgage, where the borrower chooses the term, to 3.69%.
Both products are for loans at 70% LTV and are available across all channels.
The five, six and seven-year mortgage product has a £195 fee while the 3.99% 10-year fix has a fee of £1,495.
A 10-year fixed rate deal of 4.19% comes with a £195 fee.
Chris Smith, group direct mortgage manager at Chelsea, says: “The five, six and seven-year mortgage has proved extremely successful since we launched this new product a month ago.
“The seven-year option was unique when we launched it and has been the most popular - more customers have chosen this from the choice of the three terms, so we are responding to that demand for longer term fixes by reducing the rates on the 10 year product.
“On the back of further falls in swap rates we are able to pass these savings onto our members.”
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