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Saturday 27th of June 2009
February 23, 2009

Chelsea Building Society offers 10-year mortgage


by David Masters
Chelsea Building Society offers 10-year mortgage

Chelsea Building Society has launched a new ten-year fixed-rate mortgage which it claims will give customers ‘peace of mind’.

Interest on the mortgage is guaranteed to be held at 4.59% or below until April 2019.

After ten years, interest on the mortgage will revert to Chelsea’s standard variable rate, currently 5.79%.

Arrangement fee on the mortgage is £995, and maximum loan to value (LTV) is 65%.

The mortgage is available on loans between £60,000 and £500,000.

Chelsea said the mortgage will give borrowers peace of mind no matter how much the base rate fluctuates.

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.”

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