Chelsea Building Society has launched its lowest-ever three-year fixed rate mortgage – 1.99 per cent at 60 per cent LTV (loan-to-value) – so you need a 40 per cent deposit.
“Borrowers choose fixed rate mortgages to give them peace of mind and make it easier to budget for their monthly outgoings,” said Chelsea Building Society product manager Brendan Gilligan.
“The Chelsea has made a strong start to mortgage lending so far this year and we’re really pleased to be able to offer another best buy fixed rate product.
“This three year mortgage gives additional choice to homebuyers with a larger deposit, or home owners who want to remortgage and have at least 40 per cent equity in their property.”
The new three year product complements the Chelsea’s two-year fixed rate mortgage at 1.74 per cent, also at 60 per cent LTV, which the society says is the lowest two-year fixed rate mortgage currently available. Each of the mortgages has a £1,545 fee.
For borrowers with smaller deposits, the Chelsea also offers a two-year fixed rate mortgage at 90 per cent LTV with at 3.69 per cent, and a £1,545 fee.
There also is a lower-fee 90 per cent LTV two-year fixed rate mortgage at 3.94 per cent with a £745 fee.
