Chelsea Building Society 10-year mortgage launched
www.moneynews.co.uk > Mortgages > Chelsea Building Society 10-year mortgage launched
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Money News |
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Chelsea Building Society 10-year mortgage launched
Fri 20th Feb 2009
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The mortgage provider guarantees that the rate of interest charged on the new deal will not rise above 5.1 per cent until April 2019. After that it will revert to the standard variable rate, which is currently 5.79 per cent.
Customers looking for a minimum loan of £60,000 and a maximum of £500,000 will be eligible for the new deal, provided that their loan-to-value ratio is not more than 65 per cent.
Andy Paddock, Chelsea's mortgage product manager, said: "This deal gives borrowers the security of locking into current low interest rates for a ten-year period."
Recently, Barclays announced that its mortgage subsidiary Woolwich has launched a new two-year mortgage deal, offering interest rates of 3.89 per cent.
Click here for more mortgage news
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